Semanteon Capital Management LP Makes New $731,000 Investment in NovoCure Limited (NASDAQ:NVCR)

Semanteon Capital Management LP purchased a new position in NovoCure Limited (NASDAQ:NVCR) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 48,975 shares of the medical equipment provider’s stock, valued at approximately $731,000.

A number of other large investors have also bought and sold shares of the stock. Palo Alto Investors LP grew its holdings in NovoCure by 14.2% in the third quarter. Palo Alto Investors LP now owns 660,275 shares of the medical equipment provider’s stock worth $10,663,000 after purchasing an additional 82,157 shares during the period. Federated Hermes Inc. grew its holdings in NovoCure by 807.8% in the fourth quarter. Federated Hermes Inc. now owns 616,792 shares of the medical equipment provider’s stock worth $9,209,000 after purchasing an additional 548,852 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of NovoCure by 490.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 408,839 shares of the medical equipment provider’s stock valued at $6,603,000 after buying an additional 339,610 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of NovoCure by 42.1% during the fourth quarter. SG Americas Securities LLC now owns 228,591 shares of the medical equipment provider’s stock valued at $3,413,000 after buying an additional 67,705 shares during the last quarter. Finally, Seven Eight Capital LP grew its holdings in shares of NovoCure by 109.5% during the third quarter. Seven Eight Capital LP now owns 137,721 shares of the medical equipment provider’s stock valued at $2,224,000 after buying an additional 71,989 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NVCR. Evercore ISI lifted their price objective on shares of NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a report on Friday, February 23rd. HC Wainwright lifted their price objective on shares of NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Piper Sandler restated an “overweight” rating and set a $28.00 price target (up from $25.00) on shares of NovoCure in a report on Wednesday, April 10th. Wells Fargo & Company cut their price target on shares of NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Finally, Wedbush restated a “neutral” rating and set a $21.00 price target on shares of NovoCure in a report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, NovoCure currently has an average rating of “Moderate Buy” and a consensus price target of $31.13.

NovoCure Stock Performance

Shares of NASDAQ:NVCR traded up $0.40 during trading on Friday, reaching $12.64. The company had a trading volume of 761,583 shares, compared to its average volume of 1,337,344. The company has a fifty day moving average of $14.49 and a two-hundred day moving average of $13.92. NovoCure Limited has a 12 month low of $10.87 and a 12 month high of $83.60. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.78 and a quick ratio of 5.56.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.08. The firm had revenue of $133.80 million for the quarter, compared to analyst estimates of $133.80 million. NovoCure had a negative net margin of 40.65% and a negative return on equity of 51.63%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.36) EPS. Equities analysts expect that NovoCure Limited will post -1.78 EPS for the current fiscal year.

Insider Transactions at NovoCure

In other news, EVP Frank X. Leonard sold 2,078 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.14, for a total value of $33,538.92. Following the transaction, the executive vice president now owns 162,617 shares of the company’s stock, valued at approximately $2,624,638.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Frank X. Leonard sold 2,078 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.14, for a total value of $33,538.92. Following the completion of the sale, the executive vice president now owns 162,617 shares of the company’s stock, valued at approximately $2,624,638.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $33,775.21. Following the completion of the sale, the chief operating officer now directly owns 252,452 shares of the company’s stock, valued at approximately $4,046,805.56. The disclosure for this sale can be found here. Insiders have sold 7,921 shares of company stock valued at $127,161 in the last quarter. Insiders own 5.67% of the company’s stock.

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.