Aigen Investment Management LP Has $191,000 Stock Holdings in NovoCure Limited (NASDAQ:NVCR)

Aigen Investment Management LP reduced its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 65.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,209 shares of the medical equipment provider’s stock after selling 22,980 shares during the quarter. Aigen Investment Management LP’s holdings in NovoCure were worth $191,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in NovoCure by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider’s stock valued at $37,184,000 after buying an additional 125,715 shares during the period. Tidal Investments LLC acquired a new position in NovoCure during the first quarter valued at approximately $695,000. Federated Hermes Inc. lifted its stake in NovoCure by 5.8% during the second quarter. Federated Hermes Inc. now owns 742,927 shares of the medical equipment provider’s stock worth $12,726,000 after purchasing an additional 40,870 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NovoCure by 56.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 419,960 shares of the medical equipment provider’s stock valued at $7,194,000 after purchasing an additional 152,185 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of NovoCure by 171.9% in the 2nd quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider’s stock valued at $13,022,000 after purchasing an additional 480,600 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

NVCR has been the topic of several research analyst reports. Evercore ISI reduced their price objective on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of NovoCure in a report on Thursday, October 31st. Wells Fargo & Company dropped their price objective on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $24.00 target price on shares of NovoCure in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, NovoCure currently has an average rating of “Moderate Buy” and an average target price of $26.17.

NovoCure Price Performance

NVCR stock opened at $16.11 on Friday. 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 Limited has a 52-week low of $11.29 and a 52-week high of $24.74. The company has a market capitalization of $1.74 billion, a P/E ratio of -11.51 and a beta of 0.71. The company has a fifty day moving average price of $16.56 and a 200-day moving average price of $18.23.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $155.10 million for the quarter, compared to analyst estimates of $143.95 million. During the same quarter in the previous year, the company posted ($0.46) EPS. The business’s revenue was up 21.8% on a year-over-year basis. As a group, equities analysts expect that NovoCure Limited will post -1.31 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.