NovoCure (NASDAQ:NVCR) Trading Up 9.3% on Insider Buying Activity

Key Points

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NovoCure Limited (NASDAQ:NVCR - Get Free Report)'s stock price shot up 9.3% during trading on Thursday following insider buying activity. The company traded as high as $12.20 and last traded at $11.99. 1,228,605 shares were traded during mid-day trading, an increase of 8% from the average session volume of 1,142,532 shares. The stock had previously closed at $10.97.

Specifically, CFO Christoph Brackmann acquired 20,000 shares of NovoCure stock in a transaction that occurred on Tuesday, July 29th. The stock was bought at an average price of $11.59 per share, with a total value of $231,800.00. Following the completion of the purchase, the chief financial officer directly owned 141,150 shares of the company's stock, valued at approximately $1,635,928.50. This represents a 16.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVCR. Wells Fargo & Company reissued an "equal weight" rating and issued a $14.50 price objective (down previously from $40.00) on shares of NovoCure in a research note on Friday, July 25th. JPMorgan Chase & Co. cut their price target on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. LADENBURG THALM/SH SH began coverage on shares of NovoCure in a report on Tuesday, July 8th. They issued a "buy" rating and a $30.00 price target on the stock. Wedbush cut their price target on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Wall Street Zen lowered shares of NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $28.79.

NovoCure Stock Down 1.2%

The stock has a market capitalization of $1.25 billion, a PE ratio of -7.18 and a beta of 0.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.45 and a quick ratio of 1.39. The business's fifty day moving average price is $16.61 and its two-hundred day moving average price is $18.65.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $0.03. The firm had revenue of $158.80 million for the quarter, compared to analyst estimates of $153.87 million. NovoCure had a negative net margin of 27.13% and a negative return on equity of 47.74%. The business's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.31) earnings per share. On average, equities research analysts forecast that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GeoWealth Management LLC acquired a new position in NovoCure during the fourth quarter valued at $27,000. GF Fund Management CO. LTD. acquired a new position in NovoCure during the fourth quarter valued at $68,000. Mirae Asset Global Investments Co. Ltd. lifted its position in NovoCure by 17.1% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,307 shares of the medical equipment provider's stock valued at $77,000 after purchasing an additional 629 shares during the period. Acadian Asset Management LLC acquired a new position in NovoCure during the first quarter valued at $87,000. Finally, Russell Investments Group Ltd. lifted its position in NovoCure by 463.8% during the first quarter. Russell Investments Group Ltd. now owns 6,529 shares of the medical equipment provider's stock valued at $116,000 after purchasing an additional 5,371 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.