Aigen Investment Management LP Has $191,000 Stock Holdings in NovoCure Limited (NASDAQ:NVCR)

Aigen Investment Management LP lowered its position in shares of NovoCure Limited (NASDAQ:NVCR) by 65.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,209 shares of the medical equipment provider’s stock after selling 22,980 shares during the quarter. Aigen Investment Management LP’s holdings in NovoCure were worth $191,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Ridgewood Investments LLC bought a new position in NovoCure in the second quarter valued at $28,000. Signaturefd LLC increased its position in shares of NovoCure by 61.7% in the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 627 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in NovoCure during the second quarter worth about $34,000. Fifth Third Bancorp acquired a new position in NovoCure during the second quarter valued at approximately $43,000. Finally, Nisa Investment Advisors LLC bought a new position in NovoCure in the second quarter valued at approximately $48,000. 84.61% of the stock is owned by institutional investors.

NovoCure Trading Down 2.8 %

Shares of NASDAQ:NVCR opened at $16.11 on Friday. NovoCure Limited has a 12-month low of $11.29 and a 12-month high of $24.74. The business has a 50 day moving average of $16.56 and a 200-day moving average of $18.23. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.74 billion, a PE ratio of -11.51 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $155.10 million for the quarter, compared to analyst estimates of $143.95 million. During the same period in the prior year, the firm posted ($0.46) EPS. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities research analysts forecast that NovoCure Limited will post -1.31 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NVCR shares. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of NovoCure in a report on Thursday, October 31st. Wells Fargo & Company dropped their target price on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Evercore ISI lowered their price target on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of NovoCure in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.17.

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.