Cubist Systematic Strategies LLC Has $9.99 Million Position in NovoCure Limited (NASDAQ:NVCR)

Cubist Systematic Strategies LLC raised its stake in NovoCure Limited (NASDAQ:NVCR - Free Report) by 223.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 335,218 shares of the medical equipment provider's stock after buying an additional 231,466 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.31% of NovoCure worth $9,990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its stake in NovoCure by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,141 shares of the medical equipment provider's stock valued at $332,000 after purchasing an additional 708 shares during the period. Blue Trust Inc. boosted its position in shares of NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock worth $56,000 after buying an additional 781 shares during the period. GeoWealth Management LLC bought a new position in NovoCure in the 4th quarter worth approximately $27,000. Lindbrook Capital LLC increased its position in NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock valued at $55,000 after acquiring an additional 1,213 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in NovoCure by 57.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock valued at $129,000 after acquiring an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analyst Weigh In

NVCR has been the topic of a number of research analyst reports. Wedbush lowered their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Piper Sandler dropped their price target on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. StockNews.com cut shares of NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. HC Wainwright reissued a "buy" rating and set a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. decreased their price target on NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $32.83.

NovoCure Price Performance

Shares of NASDAQ NVCR traded down $0.06 during trading on Friday, hitting $17.38. The company had a trading volume of 1,001,106 shares, compared to its average volume of 1,174,812. The company has a market cap of $1.94 billion, a P/E ratio of -12.41 and a beta of 0.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The business's 50-day moving average is $17.92 and its 200 day moving average is $21.75. NovoCure Limited has a 52 week low of $14.17 and a 52 week high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.16. The firm had revenue of $154.99 million for the quarter, compared to the consensus estimate of $147.57 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.36) EPS. Equities research analysts predict that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

About NovoCure

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.