NovoCure Limited (NVCR) CEO Sells $147,290.85 in Stock

NovoCure Limited (NASDAQ:NVCR) CEO Asaf Danziger sold 7,383 shares of NovoCure Limited stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $19.95, for a total value of $147,290.85. Following the transaction, the chief executive officer now owns 462,765 shares in the company, valued at $9,232,161.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Asaf Danziger also recently made the following trade(s):

  • On Monday, July 10th, Asaf Danziger sold 274,359 shares of NovoCure Limited stock. The stock was sold at an average price of $18.07, for a total value of $4,957,667.13.
  • On Wednesday, July 5th, Asaf Danziger sold 155,088 shares of NovoCure Limited stock. The stock was sold at an average price of $18.14, for a total value of $2,813,296.32.
  • On Thursday, July 6th, Asaf Danziger sold 160,138 shares of NovoCure Limited stock. The stock was sold at an average price of $18.14, for a total value of $2,904,903.32.
  • On Monday, June 19th, Asaf Danziger sold 124,720 shares of NovoCure Limited stock. The shares were sold at an average price of $15.51, for a total value of $1,934,407.20.
  • On Friday, June 16th, Asaf Danziger sold 42,457 shares of NovoCure Limited stock. The shares were sold at an average price of $15.15, for a total value of $643,223.55.
  • On Wednesday, June 14th, Asaf Danziger sold 94,102 shares of NovoCure Limited stock. The shares were sold at an average price of $15.22, for a total value of $1,432,232.44.
  • On Monday, June 12th, Asaf Danziger sold 180,601 shares of NovoCure Limited stock. The shares were sold at an average price of $15.13, for a total value of $2,732,493.13.

Shares of NovoCure Limited (NASDAQ NVCR) traded up 1.39% during trading on Friday, reaching $18.30. The company’s stock had a trading volume of 716,569 shares. The stock’s 50 day moving average price is $18.61 and its 200-day moving average price is $12.11. NovoCure Limited has a 12 month low of $5.95 and a 12 month high of $21.75. The firm’s market cap is $1.63 billion.

NovoCure Limited (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.01. The firm had revenue of $38.38 million during the quarter, compared to analysts’ expectations of $42.20 million. NovoCure Limited had a negative net margin of 75.91% and a negative return on equity of 69.48%. Equities analysts predict that NovoCure Limited will post ($0.75) EPS for the current year.

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Several large investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of NovoCure Limited by 50.4% in the second quarter. FMR LLC now owns 6,888,120 shares of the medical equipment provider’s stock valued at $119,165,000 after buying an additional 2,309,559 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of NovoCure Limited by 40.5% in the second quarter. Vanguard Group Inc. now owns 4,283,862 shares of the medical equipment provider’s stock valued at $74,111,000 after buying an additional 1,235,922 shares during the last quarter. Peregrine Capital Management LLC raised its stake in shares of NovoCure Limited by 7.4% in the first quarter. Peregrine Capital Management LLC now owns 1,210,934 shares of the medical equipment provider’s stock valued at $10,051,000 after buying an additional 83,448 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of NovoCure Limited during the second quarter valued at about $14,308,000. Finally, Northern Trust Corp raised its stake in shares of NovoCure Limited by 15.3% in the second quarter. Northern Trust Corp now owns 587,698 shares of the medical equipment provider’s stock valued at $10,167,000 after buying an additional 78,047 shares during the last quarter. Institutional investors own 24.96% of the company’s stock.

A number of analysts have recently commented on the company. Zacks Investment Research lowered NovoCure Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub downgraded NovoCure Limited from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price on shares of NovoCure Limited in a research report on Thursday, April 27th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $19.00 target price (up previously from $18.00) on shares of NovoCure Limited in a research report on Monday, July 17th. Finally, ValuEngine raised NovoCure Limited from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $19.29.

About NovoCure Limited

NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.

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