GAMMA Investing LLC Purchases 47,152 Shares of NovoCure Limited (NASDAQ:NVCR)

GAMMA Investing LLC raised its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 1,675.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,967 shares of the medical equipment provider’s stock after acquiring an additional 47,152 shares during the quarter. GAMMA Investing LLC’s holdings in NovoCure were worth $890,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Soleus Capital Management L.P. purchased a new stake in shares of NovoCure during the fourth quarter worth about $81,643,000. Capital International Investors boosted its stake in NovoCure by 12.0% in the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider’s stock worth $264,442,000 after purchasing an additional 951,141 shares during the period. Granite Investment Partners LLC purchased a new stake in NovoCure during the 4th quarter valued at approximately $20,464,000. Emerald Advisers LLC bought a new stake in shares of NovoCure during the fourth quarter valued at approximately $16,317,000. Finally, Capital World Investors raised its position in shares of NovoCure by 11.8% during the fourth quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider’s stock valued at $143,503,000 after buying an additional 507,311 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Price Performance

NASDAQ:NVCR opened at $17.91 on Tuesday. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -12.79 and a beta of 0.74. 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 business has a 50 day simple moving average of $17.51 and a 200-day simple moving average of $21.89. NovoCure Limited has a 1 year low of $14.17 and a 1 year high of $34.13.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.16. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company had revenue of $154.99 million during the quarter, compared to the consensus estimate of $147.57 million. During the same period last year, the company earned ($0.36) earnings per share. NovoCure’s revenue was up 11.9% on a year-over-year basis. Equities analysts forecast that NovoCure Limited will post -1.3 EPS for the current year.

Analyst Upgrades and Downgrades

NVCR has been the subject of several research analyst reports. Wall Street Zen cut shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on NovoCure from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Wedbush decreased their target price on NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Finally, Piper Sandler dropped their price target on NovoCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, NovoCure presently has a consensus rating of “Hold” and a consensus price target of $32.83.

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.