Cinctive Capital Management LP Makes New $3.27 Million Investment in NovoCure Limited (NASDAQ:NVCR)

Cinctive Capital Management LP purchased a new stake in NovoCure Limited (NASDAQ:NVCR) during the 4th quarter, Holdings Channel reports. The firm purchased 109,812 shares of the medical equipment provider’s stock, valued at approximately $3,272,000.

A number of other hedge funds have also modified their holdings of the business. Lindbrook Capital LLC lifted its stake in NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 1,213 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 781 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of NovoCure in the fourth quarter valued at $70,000. Versant Capital Management Inc boosted its stake in shares of NovoCure by 35.8% during the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after acquiring an additional 880 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in NovoCure by 57.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock worth $129,000 after purchasing an additional 1,575 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NVCR shares. Wedbush restated a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. StockNews.com downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th. Finally, Piper Sandler increased their price target on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.80.

NovoCure Price Performance

NovoCure stock opened at $17.94 on Thursday. NovoCure Limited has a 1 year low of $11.70 and a 1 year high of $34.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The firm has a 50 day moving average price of $21.19 and a 200 day moving average price of $21.65. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -12.81 and a beta of 0.63.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.27). The company had revenue of $161.27 million for the quarter, compared to analysts’ expectations of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. Sell-side analysts predict that NovoCure Limited will post -1.3 earnings per share for the current 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.