Graham Capital Management L.P. Purchases 30,082 Shares of NovoCure Limited $NVCR

Key Points

• Graham Capital Management L.P. increased its stake in NovoCure Limited by 138.6% during Q1, now holding 51,791 shares valued at approximately $923,000.
• Wall Street analysts maintain a consensus price target of $28.79 for NovoCure, with ratings that include four "Buy" and three "Hold."
• Insider trading activity includes CFO Christoph Brackmann purchasing 20,000 shares at $11.59 each, boosting his holdings to 141,150 shares worth nearly $1.64 million.

Graham Capital Management L.P. raised its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 138.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,791 shares of the medical equipment provider's stock after acquiring an additional 30,082 shares during the period. Graham Capital Management L.P.'s holdings in NovoCure were worth $923,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. 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 valued at $187,000 after purchasing an additional 1,500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in NovoCure by 2.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,490 shares of the medical equipment provider's stock valued at $2,160,000 after buying an additional 1,978 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of NovoCure by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 324,592 shares of the medical equipment provider's stock worth $5,784,000 after buying an additional 2,062 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of NovoCure during the fourth quarter worth $68,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of NovoCure by 5.3% in the 1st quarter. Teacher Retirement System of Texas now owns 62,375 shares of the medical equipment provider's stock valued at $1,112,000 after acquiring an additional 3,123 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

NVCR has been the topic of a number of research reports. Piper Sandler restated an "overweight" rating and set a $34.00 price objective on shares of NovoCure in a research report on Friday, June 27th. Wells Fargo & Company reissued an "equal weight" rating and set a $14.50 price target (down from $40.00) on shares of NovoCure in a research note on Friday, July 25th. Finally, LADENBURG THALM/SH SH started coverage on shares of NovoCure in a research report on Tuesday, July 8th. They issued a "buy" rating and a $30.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, NovoCure currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.79.

NovoCure Trading Down 3.1%

Shares of NVCR stock traded down $0.39 during mid-day trading on Wednesday, hitting $12.27. The company's stock had a trading volume of 146,036 shares, compared to its average volume of 1,221,726. The company has a market cap of $1.37 billion, a PE ratio of -7.87 and a beta of 0.58. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 1.45. The company's fifty day simple moving average is $13.52 and its 200-day simple moving average is $16.43. NovoCure Limited has a 52 week low of $10.87 and a 52 week high of $34.13.

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

Insider Buying and Selling

In related news, CFO Christoph Brackmann purchased 20,000 shares of NovoCure stock in a transaction that occurred on Tuesday, July 29th. The stock was bought at an average price of $11.59 per share, for a total transaction of $231,800.00. Following the completion of the transaction, the chief financial officer owned 141,150 shares in the company, valued at $1,635,928.50. This represents a 16.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ashley Cordova purchased 81,550 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were bought at an average price of $12.22 per share, with a total value of $996,541.00. Following the purchase, the chief executive officer owned 437,569 shares in the company, valued at $5,347,093.18. The trade was a 22.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.52% of the company's stock.

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.