GSA Capital Partners LLP Buys Shares of 55,527 NovoCure Limited (NASDAQ:NVCR)

Key Points

• GSA Capital Partners LLP made a new investment in NovoCure Limited, acquiring 55,527 shares valued at approximately $989,000 during the 1st quarter.
• Insider trading saw CFO Christoph Brackmann purchase 20,000 shares at an average price of $11.59, increasing his position by 16.51%.
• Recent analyst ratings for NovoCure show a consensus of "Hold" with target prices ranging from $14.50 to $34.00.

GSA Capital Partners LLP bought a new position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 55,527 shares of the medical equipment provider's stock, valued at approximately $989,000.

Several other hedge funds have also modified their holdings of NVCR. Summit Investment Advisors Inc. raised its position in NovoCure by 6.8% in the fourth 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. GeoWealth Management LLC acquired a new stake in NovoCure during the fourth quarter valued at approximately $27,000. AdvisorNet Financial Inc boosted its position in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NovoCure by 2.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,490 shares of the medical equipment provider's stock worth $2,160,000 after purchasing an additional 1,978 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of NovoCure by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 324,592 shares of the medical equipment provider's stock valued at $5,784,000 after purchasing an additional 2,062 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Stock Down 1.4%

Shares of NASDAQ NVCR traded down $0.17 during trading on Tuesday, hitting $11.59. The stock had a trading volume of 1,299,017 shares, compared to its average volume of 1,180,311. The company has a market capitalization of $1.30 billion, a PE ratio of -7.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.45 and a quick ratio of 1.39. The firm has a fifty day moving average of $16.48 and a two-hundred day moving average of $18.55. NovoCure Limited has a 12 month low of $10.91 and a 12 month high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.03. The business had revenue of $158.80 million for the quarter, compared to the consensus estimate of $153.87 million. NovoCure had a negative return on equity of 47.74% and a negative net margin of 27.13%. NovoCure's revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.31) earnings per share. As a group, equities research analysts forecast that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NVCR shares. Wall Street Zen lowered shares of NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Wells Fargo & Company reissued an "equal weight" rating and issued a $14.50 price target (down previously from $40.00) on shares of NovoCure in a report on Friday, July 25th. JPMorgan Chase & Co. lowered their target price on NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Wedbush lowered their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Finally, LADENBURG THALM/SH SH initiated coverage on NovoCure in a report on Tuesday, July 8th. They set a "buy" rating and a $30.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $28.79.

Insider Buying and Selling at NovoCure

In other NovoCure news, CFO Christoph Brackmann acquired 20,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average price of $11.59 per share, with a total value of $231,800.00. Following the transaction, the chief financial officer directly owned 141,150 shares in the company, valued at approximately $1,635,928.50. The trade was a 16.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.52% of the stock is owned by insiders.

NovoCure 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.