Novocure Ltd (NASDAQ:NVCR) Shares Bought by Trexquant Investment LP

Trexquant Investment LP lifted its holdings in shares of Novocure Ltd (NASDAQ:NVCR) by 355.1% during the 1st quarter, HoldingsChannel reports. The fund owned 32,438 shares of the medical equipment provider’s stock after buying an additional 25,310 shares during the period. Trexquant Investment LP’s holdings in Novocure were worth $1,563,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. PRW Wealth Management LLC acquired a new position in shares of Novocure in the fourth quarter valued at approximately $36,000. NumerixS Investment Technologies Inc acquired a new position in shares of Novocure in the fourth quarter valued at approximately $59,000. QS Investors LLC acquired a new position in shares of Novocure in the fourth quarter valued at approximately $70,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Novocure in the fourth quarter valued at approximately $142,000. Finally, Strategic Financial Services Inc acquired a new position in shares of Novocure in the first quarter valued at approximately $207,000. 65.34% of the stock is currently owned by institutional investors and hedge funds.

Shares of Novocure stock traded down $0.90 during trading on Friday, reaching $56.17. The company’s stock had a trading volume of 183,814 shares, compared to its average volume of 422,083. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.73 and a quick ratio of 4.39. Novocure Ltd has a 12-month low of $26.02 and a 12-month high of $57.82. The company has a market cap of $5.46 billion, a PE ratio of -81.40 and a beta of 2.44.

Novocure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.13). Novocure had a negative return on equity of 47.23% and a negative net margin of 20.42%. The firm had revenue of $73.31 million for the quarter, compared to the consensus estimate of $72.85 million. During the same period in the previous year, the business earned ($0.23) earnings per share. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, equities research analysts anticipate that Novocure Ltd will post -0.17 EPS for the current fiscal year.

A number of analysts recently weighed in on NVCR shares. BidaskClub upgraded Novocure from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine downgraded Novocure from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Wells Fargo & Co restated a “hold” rating on shares of Novocure in a research note on Thursday, February 28th. Mizuho restated a “buy” rating and issued a $63.00 price target on shares of Novocure in a research note on Thursday, March 7th. Finally, SunTrust Banks started coverage on Novocure in a research note on Tuesday, March 19th. They issued a “hold” rating and a $50.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $49.63.

In other Novocure news, CEO Asaf Danziger sold 30,436 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $55.39, for a total transaction of $1,685,850.04. Following the sale, the chief executive officer now directly owns 275,146 shares in the company, valued at $15,240,336.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Pritesh Shah sold 1,130 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $55.05, for a total value of $62,206.50. Following the sale, the insider now owns 76,272 shares in the company, valued at $4,198,773.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 343,464 shares of company stock worth $17,228,476. 5.60% of the stock is owned by company insiders.

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Novocure Company Profile

Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.

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Institutional Ownership by Quarter for Novocure (NASDAQ:NVCR)

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