NovoCure Limited (NASDAQ:NVCR) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC reduced its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 21.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,028 shares of the medical equipment provider’s stock after selling 4,089 shares during the period. Summit Trail Advisors LLC’s holdings in NovoCure were worth $448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in shares of NovoCure in the third quarter valued at about $45,000. Blue Trust Inc. increased its holdings in NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 781 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of NovoCure by 58.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after acquiring an additional 1,354 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of NovoCure by 21.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock worth $61,000 after acquiring an additional 701 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock worth $100,000 after acquiring an additional 880 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of NovoCure in a report on Tuesday, January 14th. Wedbush reaffirmed a “neutral” rating and set a $29.00 price target on shares of NovoCure in a research note on Monday, January 13th. Piper Sandler increased their price objective on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and raised their target price for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

NovoCure Stock Down 2.0 %

NVCR opened at $21.21 on Wednesday. The firm has a market cap of $2.29 billion, a P/E ratio of -15.15 and a beta of 0.62. The business’s fifty day simple moving average is $28.06 and its 200 day simple moving average is $21.32. NovoCure Limited has a 52 week low of $11.70 and a 52 week high of $34.13. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

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.