Insider Selling: Novocure Ltd (NVCR) CEO Sells 336,420 Shares of Stock

Novocure Ltd (NASDAQ:NVCR) CEO Asaf Danziger sold 336,420 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $22.33, for a total value of $7,512,258.60. Following the sale, the chief executive officer now owns 435,863 shares in the company, valued at approximately $9,732,820.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Monday, November 6th, Asaf Danziger sold 6,919 shares of Novocure stock. The shares were sold at an average price of $22.00, for a total value of $152,218.00.
  • On Friday, November 3rd, Asaf Danziger sold 2,300 shares of Novocure stock. The shares were sold at an average price of $22.00, for a total value of $50,600.00.
  • On Wednesday, November 1st, Asaf Danziger sold 15,866 shares of Novocure stock. The shares were sold at an average price of $22.01, for a total value of $349,210.66.

Shares of Novocure Ltd (NASDAQ NVCR) traded down $0.50 during trading on Tuesday, hitting $21.20. The stock had a trading volume of 1,620,035 shares, compared to its average volume of 1,029,414. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.90 and a quick ratio of 5.30. The firm has a market cap of $1,890.00 and a PE ratio of -25.54. Novocure Ltd has a fifty-two week low of $6.00 and a fifty-two week high of $22.90.

Novocure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The business had revenue of $50.10 million for the quarter, compared to analysts’ expectations of $43.45 million. Novocure had a negative return on equity of 57.68% and a negative net margin of 47.45%. The business’s quarterly revenue was up 130.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.39) EPS. research analysts forecast that Novocure Ltd will post -0.65 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of NVCR. Goldman Sachs Group Inc. increased its position in Novocure by 6,617.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,988,007 shares of the medical equipment provider’s stock valued at $86,293,000 after acquiring an additional 4,913,755 shares during the period. FMR LLC increased its position in Novocure by 50.4% in the 2nd quarter. FMR LLC now owns 6,888,120 shares of the medical equipment provider’s stock valued at $119,165,000 after acquiring an additional 2,309,559 shares during the period. Vanguard Group Inc. increased its position in Novocure by 40.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,283,862 shares of the medical equipment provider’s stock valued at $74,111,000 after acquiring an additional 1,235,922 shares during the period. PointState Capital LP acquired a new stake in Novocure in the 2nd quarter valued at approximately $5,744,000. Finally, Pier Capital LLC acquired a new stake in Novocure in the 3rd quarter valued at approximately $5,426,000. Hedge funds and other institutional investors own 41.53% of the company’s stock.

A number of analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $25.00 price target (down from $29.00) on shares of Novocure in a research report on Friday, October 27th. Zacks Investment Research upgraded Novocure from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novocure in a research report on Monday, November 20th. BidaskClub upgraded Novocure from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, ValuEngine upgraded Novocure from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Novocure has a consensus rating of “Buy” and an average target price of $21.13.

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Novocure Company Profile

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.

Insider Buying and Selling by Quarter for Novocure (NASDAQ:NVCR)

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