GAMMA Investing LLC Acquires 47,152 Shares of NovoCure Limited (NASDAQ:NVCR)

GAMMA Investing LLC boosted its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 1,675.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,967 shares of the medical equipment provider's stock after acquiring an additional 47,152 shares during the quarter. GAMMA Investing LLC's holdings in NovoCure were worth $890,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. AdvisorNet Financial Inc raised its stake in shares of NovoCure by 16.7% during the first quarter. AdvisorNet Financial Inc now owns 10,466 shares of the medical equipment provider's stock valued at $187,000 after purchasing an additional 1,500 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of NovoCure by 310.0% in the first quarter. Versant Capital Management Inc now owns 13,699 shares of the medical equipment provider's stock valued at $244,000 after buying an additional 10,358 shares during the period. Kera Capital Partners Inc. bought a new position in NovoCure during the first quarter valued at about $194,000. Mackenzie Financial Corp bought a new stake in NovoCure in the fourth quarter worth about $203,000. Finally, GF Fund Management CO. LTD. acquired a new stake in NovoCure in the 4th quarter valued at about $68,000. Institutional investors own 84.61% of the company's stock.

NovoCure Stock Down 0.4%

NVCR stock traded down $0.07 during mid-day trading on Friday, hitting $16.73. The stock had a trading volume of 811,565 shares, compared to its average volume of 1,179,380. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -11.11 and a beta of 0.74. The company has a fifty day moving average of $17.53 and a 200 day moving average of $21.74. The company has a current ratio of 1.47, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27. NovoCure Limited has a 1-year low of $14.17 and a 1-year high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.16. The business had revenue of $154.99 million during the quarter, compared to analyst estimates of $147.57 million. NovoCure had a negative net margin of 26.41% and a negative return on equity of 45.46%. NovoCure's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.36) EPS. On average, equities analysts expect that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NVCR has been the topic of several recent research reports. Piper Sandler decreased 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. Wall Street Zen cut NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their target price on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, Wedbush reduced their price target on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $32.83.

NovoCure Company Profile

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.