NovoCure Limited (NASDAQ:NVCR) Shares Sold by Graham Capital Management L.P.

Graham Capital Management L.P. reduced its holdings in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) by 59.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,709 shares of the medical equipment provider's stock after selling 31,236 shares during the period. Graham Capital Management L.P.'s holdings in NovoCure were worth $647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors grew its stake in shares of NovoCure by 12.0% during the fourth quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock worth $264,442,000 after acquiring an additional 951,141 shares during the last quarter. Capital World Investors grew its position in NovoCure by 11.8% during the 4th quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock worth $143,503,000 after purchasing an additional 507,311 shares during the last quarter. Northern Trust Corp grew its position in NovoCure by 39.1% during the 4th quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider's stock worth $38,274,000 after purchasing an additional 360,841 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in NovoCure by 27.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,068,863 shares of the medical equipment provider's stock valued at $31,852,000 after purchasing an additional 229,689 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of NovoCure by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 836,214 shares of the medical equipment provider's stock worth $24,919,000 after buying an additional 11,771 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Price Performance

Shares of NVCR opened at $17.10 on Thursday. The business's 50-day moving average is $17.82 and its two-hundred day moving average is $21.75. The company has a market capitalization of $1.91 billion, a P/E ratio of -12.21 and a beta of 0.73. NovoCure Limited has a fifty-two week low of $14.17 and a fifty-two week high of $34.13. 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 posted its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.16. The firm had revenue of $154.99 million for the quarter, compared to analyst estimates of $147.57 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. NovoCure's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned ($0.36) earnings per share. Research analysts predict that NovoCure Limited will post -1.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVCR. Wedbush cut their target price on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler cut their price objective on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price objective on NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Finally, StockNews.com lowered NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.

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