Marshall Wace LLP Sells 508,718 Shares of NovoCure Limited (NASDAQ:NVCR)

Marshall Wace LLP lowered its stake in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 65.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 270,952 shares of the medical equipment provider's stock after selling 508,718 shares during the period. Marshall Wace LLP owned 0.25% of NovoCure worth $8,074,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVCR. Granite Investment Partners LLC bought a new stake in shares of NovoCure during the 4th quarter worth approximately $20,464,000. Emerald Advisers LLC bought a new stake in shares of NovoCure during the 4th quarter worth approximately $16,317,000. EAM Investors LLC bought a new stake in shares of NovoCure during the 4th quarter worth approximately $4,228,000. Franklin Resources Inc. increased its holdings in shares of NovoCure by 222.6% during the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider's stock worth $2,904,000 after acquiring an additional 124,793 shares during the last quarter. Finally, Cinctive Capital Management LP acquired a new position in shares of NovoCure during the 4th quarter worth approximately $3,272,000. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on NVCR shares. StockNews.com lowered NovoCure from a "hold" rating to a "sell" rating in a report on Friday. JPMorgan Chase & Co. decreased their target price on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Wedbush decreased 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. Piper Sandler decreased their target price on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, HC Wainwright reissued a "buy" rating and set a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $32.83.

NovoCure Stock Performance

NASDAQ NVCR traded down $0.19 on Monday, reaching $18.31. The stock had a trading volume of 1,193,175 shares, compared to its average volume of 1,185,771. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The firm has a fifty day moving average of $18.41 and a two-hundred day moving average of $21.74. NovoCure Limited has a 1-year low of $12.17 and a 1-year high of $34.13. The company has a market cap of $2.04 billion, a P/E ratio of -13.08 and a beta of 0.65.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, beating analysts' consensus estimates of ($0.47) by $0.16. The firm had revenue of $154.99 million during the quarter, compared to the consensus estimate of $147.57 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company's revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.36) EPS. On average, equities research analysts anticipate 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.