Xponance Inc. Takes $231,000 Position in NovoCure Limited (NASDAQ:NVCR)

Xponance Inc. acquired a new position in NovoCure Limited (NASDAQ:NVCR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,762 shares of the medical equipment provider’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVCR. Brooklyn Investment Group acquired a new stake in shares of NovoCure in the third quarter valued at about $45,000. Lindbrook Capital LLC increased its holdings in NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 1,213 shares in 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 valued at $56,000 after acquiring an additional 781 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of NovoCure during the 4th quarter worth approximately $70,000. Finally, Versant Capital Management Inc grew its holdings in shares of NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock worth $100,000 after acquiring an additional 880 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Stock Performance

Shares of NASDAQ NVCR opened at $18.86 on Friday. 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 company has a market cap of $2.07 billion, a PE ratio of -13.47 and a beta of 0.63. The company has a 50-day simple moving average of $21.72 and a 200-day simple moving average of $21.61. NovoCure Limited has a 12 month low of $11.70 and a 12 month high of $34.13.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.27). The business had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. On average, equities analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th. Piper Sandler increased their price objective on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Wedbush restated a “neutral” rating and set a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and upped their price target for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, StockNews.com cut shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.80.

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.