Two Sigma Advisers LP Lowers Stock Position in NovoCure Limited (NASDAQ:NVCR)

Two Sigma Advisers LP reduced its position in NovoCure Limited (NASDAQ:NVCR - Free Report) by 39.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 586,000 shares of the medical equipment provider's stock after selling 377,900 shares during the quarter. Two Sigma Advisers LP owned approximately 0.54% of NovoCure worth $17,463,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. bought a new stake in shares of NovoCure in the 4th quarter valued at $272,000. LPL Financial LLC bought a new stake in shares of NovoCure in the 4th quarter valued at $830,000. Los Angeles Capital Management LLC boosted its stake in shares of NovoCure by 362.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 70,601 shares of the medical equipment provider's stock valued at $2,104,000 after purchasing an additional 55,334 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of NovoCure in the 4th quarter valued at $899,000. Finally, Choreo LLC bought a new stake in shares of NovoCure in the 4th quarter valued at $251,000. 84.61% of the stock is owned by institutional investors.

NovoCure Stock Up 3.3%

NVCR traded up $0.61 during trading on Tuesday, hitting $19.15. 184,492 shares of the company's stock were exchanged, compared to its average volume of 1,139,672. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The business's 50 day moving average is $17.51 and its two-hundred day moving average is $21.89. NovoCure Limited has a fifty-two week low of $14.17 and a fifty-two week high of $34.13. The stock has a market cap of $2.13 billion, a P/E ratio of -13.68 and a beta of 0.73.

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 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 for the quarter, compared to the consensus estimate of $147.57 million. During the same quarter in the prior year, the company posted ($0.36) earnings per share. The business's revenue was up 11.9% on a year-over-year basis. As a group, equities analysts expect that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NVCR. JPMorgan Chase & Co. dropped their target price on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Piper Sandler dropped their target price 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. Wedbush dropped their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Finally, Wall Street Zen downgraded shares of NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $32.83.

About NovoCure

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.