GSA Capital Partners LLP Makes New Investment in 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 stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,527 shares of the medical equipment provider's stock, valued at approximately $989,000.

A number of other institutional investors have also recently made changes to their positions in NVCR. GeoWealth Management LLC bought a new position in NovoCure during the fourth quarter valued at approximately $27,000. GF Fund Management CO. LTD. purchased a new stake in NovoCure during the 4th quarter valued at $68,000. Wealthquest Corp bought a new position in shares of NovoCure during the 1st quarter valued at $129,000. AdvisorNet Financial Inc boosted its stake in shares of NovoCure by 16.7% in the 1st quarter. AdvisorNet Financial Inc now owns 10,466 shares of the medical equipment provider's stock worth $187,000 after buying an additional 1,500 shares during the last quarter. Finally, Kera Capital Partners Inc. bought a new stake in shares of NovoCure in the first quarter worth $194,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Insider Buying and Selling at NovoCure

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wedbush lowered their target price on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $14.50 price target (down previously from $40.00) on shares of NovoCure in a research report on Friday, July 25th. Piper Sandler restated an "overweight" rating and set a $34.00 target price on shares of NovoCure in a research report on Friday, June 27th. LADENBURG THALM/SH SH started coverage on shares of NovoCure in a report on Tuesday, July 8th. They set a "buy" rating and a $30.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $28.79.

NovoCure Trading Up 5.5%

Shares of NASDAQ:NVCR opened at $11.57 on Friday. The stock has a 50 day moving average of $16.76 and a 200 day moving average of $18.86. The company has a market cap of $1.29 billion, a PE ratio of -7.42 and a beta of 0.72. NovoCure Limited has a 12-month low of $10.91 and a 12-month high of $34.13. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28.

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

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.

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