LMR Partners LLP decreased its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Free Report) by 32.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 41,211 shares of the biotechnology company’s stock after selling 20,000 shares during the period. LMR Partners LLP’s holdings in Iovance Biotherapeutics were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IOVA. US Bancorp DE lifted its stake in shares of Iovance Biotherapeutics by 113.8% during the 1st quarter. US Bancorp DE now owns 31,557 shares of the biotechnology company’s stock worth $468,000 after buying an additional 16,800 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock valued at $369,245,000 after purchasing an additional 2,102,480 shares during the last quarter. American International Group Inc. increased its stake in shares of Iovance Biotherapeutics by 2.6% during the first quarter. American International Group Inc. now owns 116,951 shares of the biotechnology company’s stock worth $1,733,000 after purchasing an additional 2,941 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Iovance Biotherapeutics by 89.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 43,878 shares of the biotechnology company’s stock valued at $650,000 after purchasing an additional 20,778 shares during the period. Finally, Avoro Capital Advisors LLC increased its position in Iovance Biotherapeutics by 74.6% during the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock worth $173,394,000 after buying an additional 5,000,000 shares during the period. 77.03% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on IOVA. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. Finally, UBS Group started coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.33.
Iovance Biotherapeutics Trading Down 0.6 %
Iovance Biotherapeutics stock opened at $8.14 on Thursday. The stock has a 50-day moving average price of $9.97 and a two-hundred day moving average price of $9.63. Iovance Biotherapeutics, Inc. has a 12 month low of $5.14 and a 12 month high of $18.33. The company has a market capitalization of $2.48 billion, a PE ratio of -5.46 and a beta of 0.60.
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.03. The company had revenue of $58.56 million during the quarter, compared to analysts’ expectations of $53.54 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. During the same quarter in the prior year, the firm posted ($0.46) earnings per share. As a group, analysts predict that Iovance Biotherapeutics, Inc. will post -1.25 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total transaction of $503,000.00. Following the sale, the director now owns 7,500 shares of the company’s stock, valued at approximately $75,450. This represents a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.10% of the company’s stock.
Iovance Biotherapeutics Company Profile
Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.
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