Insider Selling: Novocure Ltd (NASDAQ:NVCR) Insider Sells 11,175 Shares of Stock

Novocure Ltd (NASDAQ:NVCR) insider Pritesh Shah sold 11,175 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $60.30, for a total value of $673,852.50. Following the completion of the transaction, the insider now owns 65,037 shares in the company, valued at approximately $3,921,731.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Pritesh Shah also recently made the following trade(s):

  • On Wednesday, June 19th, Pritesh Shah sold 12,500 shares of Novocure stock. The stock was sold at an average price of $60.00, for a total value of $750,000.00.
  • On Monday, June 10th, Pritesh Shah sold 1,130 shares of Novocure stock. The stock was sold at an average price of $55.05, for a total value of $62,206.50.
  • On Thursday, May 2nd, Pritesh Shah sold 1,204 shares of Novocure stock. The stock was sold at an average price of $43.80, for a total value of $52,735.20.

Shares of NVCR stock traded down $1.63 during trading hours on Friday, reaching $69.39. The company had a trading volume of 865,043 shares, compared to its average volume of 831,706. Novocure Ltd has a 12 month low of $26.02 and a 12 month high of $72.59. The company has a current ratio of 4.73, a quick ratio of 4.39 and a debt-to-equity ratio of 1.27. The firm has a fifty day moving average of $60.66. The company has a market capitalization of $6.65 billion, a P/E ratio of -100.57 and a beta of 2.44.

Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The company had revenue of $73.31 million during the quarter, compared to the consensus estimate of $72.85 million. Novocure had a negative return on equity of 47.23% and a negative net margin of 20.42%. Novocure’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the business posted ($0.23) earnings per share. As a group, equities research analysts predict that Novocure Ltd will post -0.17 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. PRW Wealth Management LLC purchased a new stake in Novocure in the fourth quarter worth $36,000. NumerixS Investment Technologies Inc purchased a new stake in Novocure in the fourth quarter worth $59,000. QS Investors LLC purchased a new stake in Novocure in the fourth quarter worth $70,000. Campbell & CO Investment Adviser LLC purchased a new stake in Novocure in the second quarter worth $241,000. Finally, Strategic Financial Services Inc purchased a new stake in Novocure in the first quarter worth $207,000. 65.34% of the stock is owned by institutional investors and hedge funds.

NVCR has been the topic of several recent research reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novocure in a report on Sunday, May 26th. ValuEngine upgraded XOMA from a “sell” rating to a “hold” rating in a report on Friday, May 24th. BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Wedbush set a $79.00 target price on Aimmune Therapeutics and gave the company a “buy” rating in a report on Friday, May 24th. Finally, Oppenheimer initiated coverage on Novocure in a report on Friday, June 28th. They issued an “outperform” rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $53.25.

About Novocure

Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.

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Insider Buying and Selling by Quarter for Novocure (NASDAQ:NVCR)

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