Bank of Montreal Can lifted its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 1,919.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,069 shares of the medical equipment provider’s stock after acquiring an additional 6,719 shares during the period. Bank of Montreal Can’s holdings in NovoCure Limited were worth $122,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new stake in shares of NovoCure Limited during the second quarter valued at $225,000. American International Group Inc. boosted its stake in shares of NovoCure Limited by 7.1% during the first quarter. American International Group Inc. now owns 31,191 shares of the medical equipment provider’s stock valued at $253,000 after acquiring an additional 2,065 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of NovoCure Limited by 61.7% during the first quarter. Bank of America Corp DE now owns 37,531 shares of the medical equipment provider’s stock valued at $305,000 after acquiring an additional 14,321 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of NovoCure Limited by 21.2% during the fourth quarter. Teachers Advisors LLC now owns 95,674 shares of the medical equipment provider’s stock valued at $751,000 after acquiring an additional 16,741 shares during the last quarter. Finally, River & Mercantile Asset Management LLP acquired a new stake in shares of NovoCure Limited during the first quarter valued at $937,000. 36.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of NovoCure Limited (NASDAQ:NVCR) traded up 1.99% during mid-day trading on Friday, reaching $20.50. The company’s stock had a trading volume of 581,082 shares. The company’s market capitalization is $1.82 billion. The firm’s 50 day moving average is $19.42 and its 200-day moving average is $13.93. NovoCure Limited has a 52-week low of $5.95 and a 52-week high of $21.75.
NovoCure Limited (NASDAQ:NVCR) last issued its earnings results on Thursday, July 27th. The medical equipment provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.01. NovoCure Limited had a negative net margin of 75.91% and a negative return on equity of 69.48%. The firm had revenue of $38.38 million during the quarter, compared to analysts’ expectations of $42.20 million. Analysts forecast that NovoCure Limited will post ($0.75) EPS for the current year.
In related news, major shareholder Pomona Capital Vii Fund Invest sold 1,072,532 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $17.35, for a total transaction of $18,608,430.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Asaf Danziger sold 180,601 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $15.13, for a total value of $2,732,493.13. Following the transaction, the chief executive officer now directly owns 1,163,296 shares of the company’s stock, valued at approximately $17,600,668.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,213,697 shares of company stock valued at $37,828,350. 16.70% of the stock is currently owned by corporate insiders.
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A number of research firms recently commented on NVCR. Zacks Investment Research lowered NovoCure Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Mizuho began coverage on NovoCure Limited in a research note on Wednesday. They set a “buy” rating and a $25.00 price objective on the stock. BidaskClub lowered NovoCure Limited from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG reaffirmed a “hold” rating and set a $19.00 price objective (up previously from $18.00) on shares of NovoCure Limited in a research note on Monday, July 17th. Finally, ValuEngine raised NovoCure Limited from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $20.00.
NovoCure Limited Company Profile
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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