Alpha DNA Investment Management LLC Increases Stock Position in NovoCure Limited (NASDAQ:NVCR)

Alpha DNA Investment Management LLC raised its holdings in NovoCure Limited (NASDAQ:NVCR) by 22.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,950 shares of the medical equipment provider’s stock after purchasing an additional 4,597 shares during the period. Alpha DNA Investment Management LLC’s holdings in NovoCure were worth $390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ridgewood Investments LLC purchased a new position in shares of NovoCure during the second quarter valued at approximately $28,000. Signaturefd LLC lifted its stake in shares of NovoCure by 61.7% during the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 627 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of NovoCure during the second quarter valued at approximately $34,000. Fifth Third Bancorp purchased a new position in shares of NovoCure during the second quarter valued at approximately $43,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of NovoCure during the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on NVCR shares. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of NovoCure in a research note on Thursday. Evercore ISI dropped their price target on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.17.

NovoCure Stock Up 3.7 %

NASDAQ NVCR opened at $17.73 on Monday. NovoCure Limited has a 12 month low of $11.29 and a 12 month high of $24.74. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The company’s fifty day moving average price is $16.50 and its two-hundred day moving average price is $18.36.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company had revenue of $155.10 million for the quarter, compared to the consensus estimate of $143.95 million. During the same period last year, the firm posted ($0.46) EPS. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. Equities analysts anticipate that NovoCure Limited will post -1.31 earnings per share for the current fiscal 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.