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Paravasthu Mukund, the Chief Operating Officer of NovoCure Ltd (NASDAQ:NVCR), recently sold 250 ordinary shares in a transaction dated March 3, 2025. The shares were sold at prices ranging from $18.02 to $18.9918, with a weighted average price of $18.5363, amounting to a total transaction value of $4,634. The transaction comes as the $2 billion market cap company’s stock has experienced significant volatility, declining over 12% in the past week and currently trading at $18.19, near InvestingPro’s Fair Value estimate.
This sale was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units, as per the company’s award agreement. Following this transaction, Mukund holds 29,173 shares directly. Despite recent market pressure, NovoCure maintains a strong balance sheet with more cash than debt, though InvestingPro analysis indicates the company is not expected to be profitable this year.
The transaction was executed as a "sell to cover" trade, which is mandated by NovoCure’s equity incentive plans and does not indicate a discretionary trade by the executive. For deeper insights into insider trading patterns and comprehensive financial analysis, including 8 additional ProTips and detailed valuation metrics, investors can access the full NovoCure research report on InvestingPro.
In other recent news, Novocure reported its fourth-quarter earnings, which fell short of analyst expectations, despite a positive revenue outcome. The company posted a Q4 loss of $0.61 per share, missing the analyst estimate of a $0.36 loss by $0.25. However, Novocure’s revenue for the quarter reached $161.26 million, surpassing the consensus estimate of $153.04 million and marking a 21% increase compared to the previous year. For the full year 2024, total net revenues were $605.2 million, reflecting a 19% increase from the prior year, driven by the launch of Optune Gio for glioblastoma in France and better approval rates in the U.S.
Novocure also announced the FDA approval of Optune Lua for metastatic non-small cell lung cancer, with its commercial rollout underway in the U.S. Additionally, the company’s Phase 3 PANOVA-3 trial achieved its primary endpoint, showing a significant improvement in overall survival for patients with unresectable, locally advanced pancreatic cancer. As of the end of 2024, Novocure reported having 4,126 active patients on its TTFields therapy globally. The company held $959.9 million in cash, cash equivalents, and short-term investments as of December 31, 2024.
Looking forward, Novocure anticipates growth in its glioblastoma business at a low mid-single-digit rate in 2025, while acknowledging potential impacts on gross margins due to product enhancements. The company is also preparing for the U.S. launch of its Head Flexible Electrode transducer arrays for Optune Gio and the rollout of Optune Lua for metastatic non-small cell lung cancer.
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