Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Sold by Quest Partners LLC

Quest Partners LLC decreased its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 43.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,819 shares of the biotechnology company’s stock after selling 2,184 shares during the period. Quest Partners LLC’s holdings in Iovance Biotherapeutics were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IOVA. Perceptive Advisors LLC boosted its stake in Iovance Biotherapeutics by 34.6% in the second quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock valued at $207,984,000 after acquiring an additional 6,660,151 shares in the last quarter. Long Focus Capital Management LLC lifted its holdings in shares of Iovance Biotherapeutics by 195.1% in the 2nd quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock valued at $33,139,000 after purchasing an additional 2,731,688 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at about $12,929,000. Principal Financial Group Inc. grew its stake in Iovance Biotherapeutics by 59.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after buying an additional 1,496,941 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Iovance Biotherapeutics by 836.5% during the second quarter. SG Americas Securities LLC now owns 498,390 shares of the biotechnology company’s stock worth $3,997,000 after buying an additional 445,172 shares during the period. 77.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group initiated coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $17.00 price target for the company. Finally, StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

Insider Transactions at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the sale, the director now directly owns 7,500 shares in the company, valued at $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.10% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $9.32 on Monday. Iovance Biotherapeutics, Inc. has a one year low of $5.76 and a one year high of $18.33. The company has a market cap of $2.84 billion, a P/E ratio of -6.25 and a beta of 0.60. The firm has a fifty day moving average of $9.82 and a two-hundred day moving average of $9.46.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.03. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The firm had revenue of $58.56 million during the quarter, compared to analysts’ expectations of $53.54 million. During the same period in the prior year, the company posted ($0.46) earnings per share. As a group, equities analysts predict that Iovance Biotherapeutics, Inc. will post -1.25 earnings per share for the current year.

About Iovance Biotherapeutics

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.