Investors Purchase High Volume of Put Options on Novocure (NVCR)

Novocure Ltd (NASDAQ:NVCR) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 1,077 put options on the stock. This is an increase of 1,071% compared to the average daily volume of 92 put options.

Several equities research analysts recently commented on the stock. Deutsche Bank lowered shares of Novocure from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. They noted that the move was a valuation call. Wells Fargo & Co boosted their price target on shares of Novocure from $53.00 to $58.00 and gave the stock a “positive” rating in a report on Wednesday, September 19th. Wedbush boosted their price target on shares of Novocure from $33.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, July 27th. JPMorgan Chase & Co. boosted their price target on shares of Novocure from $30.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Finally, Mizuho reissued a “buy” rating and issued a $58.00 price target on shares of Novocure in a report on Thursday, September 6th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.29.

Shares of NASDAQ NVCR opened at $50.70 on Wednesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 5.97 and a current ratio of 6.41. Novocure has a one year low of $16.10 and a one year high of $52.35.

Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, July 26th. The medical equipment provider reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $61.50 million during the quarter, compared to analysts’ expectations of $59.53 million. Novocure had a negative return on equity of 52.34% and a negative net margin of 26.99%. Novocure’s revenue was up 60.2% on a year-over-year basis. equities research analysts predict that Novocure will post -0.69 EPS for the current fiscal year.

In other news, insider Yoram Palti sold 25,666 shares of Novocure stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $40.03, for a total transaction of $1,027,409.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Wilhelmus Cm Groenhuysen sold 1,241 shares of Novocure stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $35.01, for a total transaction of $43,447.41. Following the transaction, the chief financial officer now directly owns 115,644 shares of the company’s stock, valued at $4,048,696.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,908 shares of company stock valued at $9,350,630. Insiders own 15.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stratos Wealth Partners LTD. acquired a new stake in Novocure during the 1st quarter worth $109,000. Envestnet Asset Management Inc. acquired a new stake in Novocure during the 2nd quarter worth $135,000. CWM LLC acquired a new stake in Novocure during the 2nd quarter worth $163,000. NumerixS Investment Technologies Inc boosted its stake in Novocure by 270.6% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,300 shares of the medical equipment provider’s stock worth $196,000 after purchasing an additional 4,600 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in Novocure during the 2nd quarter worth $202,000. 56.08% of the stock is owned by institutional investors.

Novocure Company Profile

NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.

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