Jump Financial LLC Invests $1.55 Million in NovoCure Limited (NASDAQ:NVCR)

Jump Financial LLC bought a new stake in NovoCure Limited (NASDAQ:NVCRFree Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 103,624 shares of the medical equipment provider’s stock, valued at approximately $1,547,000. Jump Financial LLC owned about 0.10% of NovoCure at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in NovoCure in the 3rd quarter worth $74,000. Acadian Asset Management LLC acquired a new stake in NovoCure during the third quarter worth about $85,000. PNC Financial Services Group Inc. increased its stake in NovoCure by 36.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,522 shares of the medical equipment provider’s stock valued at $89,000 after acquiring an additional 1,461 shares during the period. Assetmark Inc. raised its holdings in NovoCure by 37.1% in the 3rd quarter. Assetmark Inc. now owns 7,166 shares of the medical equipment provider’s stock valued at $116,000 after acquiring an additional 1,938 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of NovoCure by 351.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,363 shares of the medical equipment provider’s stock worth $185,000 after acquiring an additional 9,624 shares during the period. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

Shares of NASDAQ:NVCR opened at $21.05 on Thursday. The business has a fifty day moving average of $14.33 and a 200-day moving average of $13.99. The company has a debt-to-equity ratio of 1.59, a quick ratio of 5.99 and a current ratio of 6.26. NovoCure Limited has a twelve month low of $10.87 and a twelve month high of $83.60. The firm has a market cap of $2.27 billion, a PE ratio of -11.63 and a beta of 0.50.

NovoCure (NASDAQ:NVCRGet Free Report) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. NovoCure had a negative net margin of 36.67% and a negative return on equity of 50.35%. The company had revenue of $138.50 million during the quarter, compared to the consensus estimate of $131.44 million. During the same period in the previous year, the firm posted ($0.50) earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts predict that NovoCure Limited will post -1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NVCR. JPMorgan Chase & Co. upped their target price on NovoCure from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Wedbush reaffirmed a “neutral” rating and set a $21.00 price objective on shares of NovoCure in a report on Thursday, May 2nd. Piper Sandler reissued an “overweight” rating and issued a $28.00 target price (up previously from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. HC Wainwright cut their price target on shares of NovoCure from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, Evercore ISI upped their price objective on NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NovoCure has an average rating of “Moderate Buy” and an average target price of $30.88.

Read Our Latest Research Report on NVCR

Insiders Place Their Bets

In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.03, for a total transaction of $26,914.37. Following the completion of the sale, the executive vice president now directly owns 160,938 shares of the company’s stock, valued at approximately $2,579,836.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Frank X. Leonard sold 2,078 shares of NovoCure stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total transaction of $33,538.92. Following the completion of the sale, the executive vice president now directly owns 162,617 shares of the company’s stock, valued at $2,624,638.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the transaction, the executive vice president now directly owns 160,938 shares in the company, valued at approximately $2,579,836.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,921 shares of company stock valued at $127,161. 6.29% of the stock is currently owned by corporate insiders.

NovoCure Profile

(Free Report)

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.

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Institutional Ownership by Quarter for NovoCure (NASDAQ:NVCR)

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