nVerses Capital LLC Sells 900 Shares of NovoCure Limited (NASDAQ:NVCR)

nVerses Capital LLC reduced its position in NovoCure Limited (NASDAQ:NVCR) by 11.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,200 shares of the medical equipment provider’s stock after selling 900 shares during the period. nVerses Capital LLC’s holdings in NovoCure were worth $113,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its holdings in shares of NovoCure by 20.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 48,427 shares of the medical equipment provider’s stock worth $757,000 after purchasing an additional 8,272 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of NovoCure by 17.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 34,223 shares of the medical equipment provider’s stock worth $535,000 after purchasing an additional 5,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of NovoCure in the 2nd quarter worth $34,000. Scientech Research LLC bought a new position in shares of NovoCure in the 2nd quarter worth $645,000. Finally, The Manufacturers Life Insurance Company raised its position in NovoCure by 25.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 187,772 shares of the medical equipment provider’s stock valued at $3,217,000 after buying an additional 37,951 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NVCR has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. HC Wainwright raised NovoCure from a “neutral” rating to a “buy” rating and increased their price target for the company from $24.00 to $30.00 in a research report on Wednesday, October 16th. Wedbush reissued an “outperform” rating and issued a $24.00 price target on shares of NovoCure in a research report on Thursday, July 25th. Finally, Evercore ISI lowered their price target on NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.17.

NovoCure Trading Up 1.8 %

Shares of NovoCure stock opened at $17.21 on Monday. NovoCure Limited has a 1 year low of $10.87 and a 1 year high of $24.74. The firm has a market cap of $1.86 billion, a PE ratio of -10.89 and a beta of 0.70. The stock has a fifty day moving average price of $17.06 and a 200-day moving average price of $17.77. The company has a debt-to-equity ratio of 1.81, a current ratio of 6.46 and a quick ratio of 6.22.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.09. NovoCure had a negative return on equity of 45.68% and a negative net margin of 30.67%. The company had revenue of $150.40 million during the quarter, compared to analyst estimates of $135.83 million. During the same quarter last year, the firm posted ($0.54) EPS. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. Equities research analysts anticipate that NovoCure Limited will post -1.34 EPS for the current year.

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.