NovoCure (NASDAQ:NVCR) CEO Sells $614,514.89 in Stock

NovoCure Limited (NASDAQ:NVCR) CEO Frank Leonard sold 34,273 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $17.93, for a total value of $614,514.89. Following the completion of the transaction, the chief executive officer directly owned 459,520 shares in the company, valued at approximately $8,239,193.60. The trade was a 6.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NovoCure Price Performance

NASDAQ NVCR opened at $17.16 on Monday. The stock’s fifty day moving average price is $14.40 and its 200 day moving average price is $13.23. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -11.22 and a beta of 0.93. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.90 and a quick ratio of 2.70. NovoCure Limited has a 1 year low of $9.82 and a 1 year high of $19.25.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The company had revenue of $174.06 million for the quarter, compared to analysts’ expectations of $167.77 million. During the same quarter in the previous year, the business posted ($0.31) EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts forecast that NovoCure Limited will post -1.55 earnings per share for the current year.

Analyst Ratings Changes

NVCR has been the topic of several analyst reports. Weiss Ratings raised NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Evercore restated an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. HC Wainwright raised their target price on NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Wells Fargo & Company raised their target price on NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Finally, Wedbush restated a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research report on Thursday, April 16th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.29.

Institutional Investors Weigh In On NovoCure

Institutional investors have recently modified their holdings of the business. Empowered Funds LLC acquired a new stake in shares of NovoCure during the 4th quarter valued at about $33,000. Kestra Advisory Services LLC purchased a new position in NovoCure in the 4th quarter valued at about $49,000. Larson Financial Group LLC lifted its stake in NovoCure by 662.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock valued at $53,000 after buying an additional 3,562 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in NovoCure by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock valued at $70,000 after buying an additional 1,120 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in NovoCure in the 1st quarter valued at about $87,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.