New York State Common Retirement Fund Cuts Stock Position in NovoCure Limited $NVCR

New York State Common Retirement Fund trimmed its position in shares of NovoCure Limited (NASDAQ:NVCR) by 66.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,993 shares of the medical equipment provider’s stock after selling 66,602 shares during the quarter. New York State Common Retirement Fund’s holdings in NovoCure were worth $426,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of NVCR. Soleus Capital Management L.P. lifted its stake in NovoCure by 25.0% during the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after purchasing an additional 1,382,888 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in NovoCure by 38.8% in the second quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock valued at $40,407,000 after purchasing an additional 634,925 shares during the last quarter. Quantinno Capital Management LP increased its position in shares of NovoCure by 38.5% during the second quarter. Quantinno Capital Management LP now owns 1,368,663 shares of the medical equipment provider’s stock worth $24,362,000 after purchasing an additional 380,411 shares in the last quarter. American Century Companies Inc. grew its position in shares of NovoCure by 1,354.7% during the second quarter. American Century Companies Inc. now owns 1,029,874 shares of the medical equipment provider’s stock worth $18,332,000 after acquiring an additional 959,079 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in NovoCure by 5.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock worth $17,707,000 after purchasing an additional 52,180 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. HC Wainwright lowered their price objective on NovoCure from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NovoCure in a research report on Thursday, January 22nd. Wedbush reissued a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a research report on Thursday, January 15th. Finally, Evercore set a $20.00 price objective on shares of NovoCure in a research note on Monday, January 5th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.50.

NovoCure Stock Performance

Shares of NVCR stock opened at $10.50 on Thursday. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -6.52 and a beta of 0.73. NovoCure Limited has a one year low of $9.82 and a one year high of $22.95. The company’s 50-day simple moving average is $12.88 and its 200-day simple moving average is $12.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.50 and a current ratio of 1.55.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.