Corebridge Financial Inc. Has $1.58 Million Holdings in NovoCure Limited (NASDAQ:NVCR)

Corebridge Financial Inc. trimmed its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,946 shares of the medical equipment provider’s stock after selling 3,997 shares during the period. Corebridge Financial Inc.’s holdings in NovoCure were worth $1,578,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Emerald Advisers LLC acquired a new stake in shares of NovoCure in the 4th quarter valued at about $16,317,000. Franklin Resources Inc. raised its position in NovoCure by 222.6% in the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock valued at $2,904,000 after buying an additional 124,793 shares during the last quarter. Edgestream Partners L.P. bought a new stake in NovoCure in the 3rd quarter valued at approximately $1,812,000. C WorldWide Group Holding A S boosted its position in NovoCure by 19.2% during the 4th quarter. C WorldWide Group Holding A S now owns 621,784 shares of the medical equipment provider’s stock worth $18,529,000 after acquiring an additional 100,000 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of NovoCure by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 907,999 shares of the medical equipment provider’s stock worth $14,192,000 after acquiring an additional 84,606 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

NovoCure Stock Up 2.4 %

NovoCure stock opened at $17.94 on Thursday. NovoCure Limited has a fifty-two week low of $11.70 and a fifty-two week high of $34.13. The firm has a market capitalization of $1.97 billion, a PE ratio of -12.81 and a beta of 0.63. The company’s 50-day moving average is $21.19 and its 200-day moving average is $21.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44.

NovoCure (NASDAQ:NVCR) last released 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). NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $161.27 million during the quarter, compared to the consensus estimate of $161.30 million. Sell-side analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Wedbush restated a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a report on Monday, January 13th. Piper Sandler upped their target price on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, StockNews.com downgraded NovoCure from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. One research 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. Based on data from MarketBeat.com, NovoCure has an average rating of “Moderate Buy” and an average target price of $35.80.

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.