Fmr LLC Has $776,000 Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Fmr LLC lifted its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 79.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,662 shares of the biotechnology company’s stock after buying an additional 36,526 shares during the period. Fmr LLC’s holdings in Iovance Biotherapeutics were worth $776,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Brookstone Capital Management bought a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at about $112,000. SeaCrest Wealth Management LLC acquired a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at $174,000. Bank of New York Mellon Corp boosted its position in shares of Iovance Biotherapeutics by 24.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,034,760 shares of the biotechnology company’s stock worth $8,299,000 after purchasing an additional 200,536 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Iovance Biotherapeutics by 11.6% during the second quarter. Panagora Asset Management Inc. now owns 361,187 shares of the biotechnology company’s stock worth $2,897,000 after purchasing an additional 37,521 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Iovance Biotherapeutics by 26.4% in the second quarter. Principal Financial Group Inc. now owns 2,536,243 shares of the biotechnology company’s stock valued at $20,341,000 after purchasing an additional 530,338 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

Insider Activity

In related news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group initiated coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA opened at $7.81 on Wednesday. Iovance Biotherapeutics, Inc. has a 1 year low of $6.70 and a 1 year high of $18.33. The stock has a market capitalization of $2.38 billion, a P/E ratio of -5.24 and a beta of 0.55. The company has a 50-day moving average price of $9.58 and a 200-day moving average price of $9.34.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS 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 the consensus estimate of $53.54 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. During the same quarter in the prior year, the company posted ($0.46) earnings per share. As a group, equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

Iovance Biotherapeutics 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.