Graham Capital Management L.P. Sells 31,236 Shares of NovoCure Limited (NASDAQ:NVCR)

Graham Capital Management L.P. lowered its holdings in NovoCure Limited (NASDAQ:NVCR - Free Report) by 59.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. GeoWealth Management LLC bought a new stake in NovoCure during the fourth quarter worth $27,000. Lindbrook Capital LLC lifted its position in shares of NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock worth $55,000 after buying an additional 1,213 shares during the last quarter. Blue Trust Inc. lifted its position in shares of NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock worth $56,000 after buying an additional 781 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in NovoCure in the fourth quarter valued at about $70,000. Finally, Nisa Investment Advisors LLC grew its position in NovoCure by 57.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock valued at $129,000 after acquiring an additional 1,575 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

NVCR has been the topic of a number of research analyst reports. Wedbush reduced their price target on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut 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. StockNews.com downgraded shares of NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $32.83.

NovoCure Stock Down 0.0%

NVCR stock traded down $0.01 during trading on Tuesday, reaching $17.95. 89,327 shares of the stock were exchanged, compared to its average volume of 1,149,872. The firm's 50 day moving average is $17.64 and its 200 day moving average is $21.85. The firm has a market cap of $2.00 billion, a P/E ratio of -12.81 and a beta of 0.73. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. NovoCure Limited has a twelve month low of $14.17 and a twelve month high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm earned ($0.36) EPS. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, research analysts forecast 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.