Novocure Ltd (NASDAQ:NVCR) Short Interest Update
Novocure Ltd (NASDAQ:NVCR) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 5,330,000 shares, a growth of 41.4% from the September 15th total of 3,770,000 shares. Currently, 6.4% of the company’s shares are short sold. Based on an average daily volume of 961,000 shares, the short-interest ratio is currently 5.5 days.
In other Novocure news, insider Uri Weinberg sold 15,250 shares of the business’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $103.35, for a total value of $1,576,087.50. Following the completion of the transaction, the insider now owns 36,347 shares in the company, valued at $3,756,462.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman William F. Doyle sold 896 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $76.39, for a total transaction of $68,445.44. Following the completion of the transaction, the chairman now owns 649,062 shares of the company’s stock, valued at approximately $49,581,846.18. The disclosure for this sale can be found here. Insiders sold a total of 194,972 shares of company stock valued at $17,178,670 in the last quarter. 5.07% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in NVCR. Vanguard Group Inc. raised its holdings in shares of Novocure by 0.8% in the second quarter. Vanguard Group Inc. now owns 7,474,620 shares of the medical equipment provider’s stock valued at $443,244,000 after buying an additional 56,364 shares during the last quarter. Capital International Investors raised its holdings in shares of Novocure by 85.1% in the first quarter. Capital International Investors now owns 2,555,725 shares of the medical equipment provider’s stock valued at $172,103,000 after buying an additional 1,175,050 shares during the last quarter. State Street Corp raised its holdings in shares of Novocure by 4.4% in the first quarter. State Street Corp now owns 1,742,591 shares of the medical equipment provider’s stock valued at $117,346,000 after buying an additional 73,981 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Novocure by 42.0% in the second quarter. Two Sigma Advisers LP now owns 885,500 shares of the medical equipment provider’s stock valued at $52,510,000 after buying an additional 262,100 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB raised its holdings in Novocure by 9.2% during the third quarter. Rhenman & Partners Asset Management AB now owns 409,600 shares of the medical equipment provider’s stock worth $45,593,000 after purchasing an additional 34,600 shares in the last quarter. 67.57% of the stock is owned by hedge funds and other institutional investors.
Shares of NVCR stock traded up $3.10 on Friday, reaching $136.96. 575,299 shares of the stock were exchanged, compared to its average volume of 1,004,915. Novocure has a twelve month low of $53.40 and a twelve month high of $140.89. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 1,141.43 and a beta of 1.41. The company has a current ratio of 5.73, a quick ratio of 5.42 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $104.49 and its 200 day moving average price is $76.74.
Novocure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, July 30th. The medical equipment provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Novocure had a net margin of 2.88% and a return on equity of 5.14%. The firm had revenue of $115.90 million during the quarter, compared to analysts’ expectations of $105.96 million. During the same period in the previous year, the company earned ($0.01) earnings per share. Novocure’s quarterly revenue was up 33.7% compared to the same quarter last year. Equities research analysts forecast that Novocure will post 0.18 earnings per share for the current year.
Novocure Company Profile
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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