Wilhelmus Cm Groenhuysen Sells 28,868 Shares of Novocure Ltd (NVCR) Stock

Novocure Ltd (NASDAQ:NVCR) CFO Wilhelmus Cm Groenhuysen sold 28,868 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $21.03, for a total value of $607,094.04. Following the completion of the transaction, the chief financial officer now directly owns 268,568 shares of the company’s stock, valued at $5,647,985.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Novocure Ltd (NASDAQ:NVCR) traded up $0.45 on Friday, reaching $20.80. The company had a trading volume of 362,252 shares, compared to its average volume of 517,188. Novocure Ltd has a fifty-two week low of $6.00 and a fifty-two week high of $22.30. The company has a market capitalization of $1,860.00 and a price-to-earnings ratio of -25.06. The company has a quick ratio of 5.30, a current ratio of 5.90 and a debt-to-equity ratio of 0.83.

Novocure (NASDAQ:NVCR) last released its earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.07. Novocure had a negative return on equity of 57.68% and a negative net margin of 47.45%. The business had revenue of $50.10 million for the quarter, compared to analyst estimates of $43.45 million. During the same quarter in the prior year, the company posted ($0.39) earnings per share. Novocure’s revenue was up 130.9% on a year-over-year basis. equities research analysts anticipate that Novocure Ltd will post -0.65 earnings per share for the current year.

NVCR has been the topic of a number of research reports. Wedbush restated an “outperform” rating and issued a $25.00 price target (down from $29.00) on shares of Novocure in a report on Friday, October 27th. Zacks Investment Research upgraded Novocure from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, October 31st. JPMorgan Chase & Co. restated a “buy” rating on shares of Novocure in a report on Monday, November 20th. Mizuho restated a “buy” rating and issued a $25.00 price target on shares of Novocure in a report on Friday, December 1st. Finally, ValuEngine upgraded Novocure from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Novocure currently has an average rating of “Buy” and an average target price of $21.13.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVCR. Bank of Montreal Can raised its holdings in Novocure by 1,919.7% during the second quarter. Bank of Montreal Can now owns 7,069 shares of the medical equipment provider’s stock worth $122,000 after acquiring an additional 6,719 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Novocure during the second quarter worth about $362,000. Schwab Charles Investment Management Inc. raised its holdings in Novocure by 23.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 97,000 shares of the medical equipment provider’s stock worth $1,679,000 after acquiring an additional 18,400 shares in the last quarter. Rhumbline Advisers raised its holdings in Novocure by 20.5% during the second quarter. Rhumbline Advisers now owns 65,094 shares of the medical equipment provider’s stock worth $1,126,000 after acquiring an additional 11,056 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Novocure by 15.4% during the second quarter. Bank of New York Mellon Corp now owns 200,307 shares of the medical equipment provider’s stock worth $3,465,000 after acquiring an additional 26,784 shares in the last quarter. Institutional investors and hedge funds own 41.53% of the company’s stock.

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About Novocure

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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