Choreo LLC Makes New Investment in NovoCure Limited (NASDAQ:NVCR)

Choreo LLC acquired a new stake in shares of NovoCure Limited (NASDAQ:NVCR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,350 shares of the medical equipment provider’s stock, valued at approximately $251,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in NovoCure by 10.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 22,943 shares of the medical equipment provider’s stock valued at $684,000 after acquiring an additional 2,129 shares during the period. KBC Group NV grew its holdings in shares of NovoCure by 65.1% during the 4th quarter. KBC Group NV now owns 5,091 shares of the medical equipment provider’s stock worth $152,000 after purchasing an additional 2,008 shares during the period. Blue Trust Inc. increased its position in NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after purchasing an additional 781 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in NovoCure by 57.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock valued at $129,000 after buying an additional 1,575 shares during the period. Finally, Versant Capital Management Inc lifted its position in 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 buying an additional 880 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

NovoCure Stock Performance

NASDAQ:NVCR opened at $22.48 on Friday. The firm has a 50-day moving average of $27.62 and a two-hundred day moving average of $21.34. 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 stock has a market cap of $2.43 billion, a P/E ratio of -16.06 and a beta of 0.62. NovoCure Limited has a 1-year low of $11.70 and a 1-year high of $34.13.

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.