Soleus Capital Management L.P. Takes Position in NovoCure Limited (NASDAQ:NVCR)

Soleus Capital Management L.P. bought a new stake in NovoCure Limited (NASDAQ:NVCR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,739,704 shares of the medical equipment provider's stock, valued at approximately $81,643,000. NovoCure comprises 5.1% of Soleus Capital Management L.P.'s portfolio, making the stock its 2nd biggest position. Soleus Capital Management L.P. owned approximately 2.53% of NovoCure as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Teza Capital Management LLC increased its position in shares of NovoCure by 573.0% during the 4th quarter. Teza Capital Management LLC now owns 100,200 shares of the medical equipment provider's stock worth $2,986,000 after purchasing an additional 85,312 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of NovoCure by 264.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,901 shares of the medical equipment provider's stock valued at $206,000 after buying an additional 5,008 shares in the last quarter. ProShare Advisors LLC increased its holdings in NovoCure by 32.4% during the fourth quarter. ProShare Advisors LLC now owns 35,115 shares of the medical equipment provider's stock worth $1,046,000 after buying an additional 8,596 shares during the last quarter. Quantinno Capital Management LP increased its holdings in NovoCure by 17.1% during the fourth quarter. Quantinno Capital Management LP now owns 294,639 shares of the medical equipment provider's stock worth $8,780,000 after buying an additional 43,108 shares during the last quarter. Finally, Millennium Management LLC raised its position in NovoCure by 28.8% during the fourth quarter. Millennium Management LLC now owns 735,227 shares of the medical equipment provider's stock worth $21,910,000 after acquiring an additional 164,416 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

NovoCure Stock Performance

NASDAQ NVCR opened at $17.89 on Monday. NovoCure Limited has a 52-week low of $14.17 and a 52-week high of $34.13. The stock has a market cap of $1.99 billion, a PE ratio of -12.78 and a beta of 0.73. The firm has a 50-day moving average of $17.70 and a 200-day moving average of $21.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued 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. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm had revenue of $154.99 million during the quarter, compared to the consensus estimate of $147.57 million. During the same period last year, the business posted ($0.36) earnings per share. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that NovoCure Limited will post -1.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on NVCR shares. Piper Sandler cut their price target on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Wedbush cut their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. StockNews.com cut NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. One 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. Based on data from MarketBeat.com, NovoCure presently has an average rating of "Hold" and a consensus target price of $32.83.

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.

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