NovoCure Limited (NASDAQ:NVCR) Short Interest Up 20.0% in December

NovoCure Limited (NASDAQ:NVCR) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 8,333,839 shares, a growth of 20.0% from the December 15th total of 6,943,501 shares. Currently, 7.9% of the company’s shares are short sold. Based on an average trading volume of 1,066,364 shares, the days-to-cover ratio is presently 7.8 days. Based on an average trading volume of 1,066,364 shares, the days-to-cover ratio is presently 7.8 days. Currently, 7.9% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NVCR shares. JPMorgan Chase & Co. decreased their price target on NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Evercore ISI set a $20.00 target price on shares of NovoCure in a report on Monday, January 5th. HC Wainwright decreased their target price on shares of NovoCure from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Wedbush reissued a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research report on Thursday, January 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.50.

Hedge Funds Weigh In On NovoCure

A number of institutional investors have recently bought and sold shares of NVCR. KLP Kapitalforvaltning AS raised its position in shares of NovoCure by 6.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 23,000 shares of the medical equipment provider’s stock worth $409,000 after acquiring an additional 1,400 shares in the last quarter. Washington Capital Management Inc. bought a new stake in shares of NovoCure during the second quarter valued at approximately $374,000. American Century Companies Inc. grew its stake in NovoCure by 1,354.7% in the second quarter. American Century Companies Inc. now owns 1,029,874 shares of the medical equipment provider’s stock worth $18,332,000 after purchasing an additional 959,079 shares during the period. Jump Financial LLC bought a new position in NovoCure in the second quarter worth $6,268,000. Finally, Edgestream Partners L.P. lifted its position in NovoCure by 30.0% during the second quarter. Edgestream Partners L.P. now owns 208,329 shares of the medical equipment provider’s stock valued at $3,708,000 after buying an additional 48,057 shares during the period. 84.61% of the stock is owned by institutional investors.

NovoCure Price Performance

Shares of NovoCure stock opened at $13.02 on Wednesday. The business has a 50 day moving average of $12.84 and a 200 day moving average of $13.06. NovoCure has a 52 week low of $10.70 and a 52 week high of $27.47. The company has a market cap of $1.46 billion, a PE ratio of -8.09 and a beta of 0.73. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 0.57.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, October 30th. The medical equipment provider reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.09. NovoCure had a negative net margin of 27.66% and a negative return on equity of 50.29%. The business had revenue of $167.20 million for the quarter, compared to analysts’ expectations of $158.81 million. During the same quarter in the previous year, the business posted ($0.28) earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts forecast that NovoCure will post -1.3 earnings per share for the current year.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.