Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Bought by Fmr LLC

Fmr LLC lifted its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 79.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,662 shares of the biotechnology company’s stock after purchasing an additional 36,526 shares during the quarter. Fmr LLC’s holdings in Iovance Biotherapeutics were worth $776,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Quest Partners LLC grew its stake in Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 4,629 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth $58,000. Daiwa Securities Group Inc. lifted its holdings in Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after buying an additional 7,781 shares during the last quarter. Abacus Planning Group Inc. purchased a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at about $82,000. Finally, ORG Wealth Partners LLC acquired a new position in Iovance Biotherapeutics in the third quarter valued at approximately $89,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IOVA shares. HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. UBS Group began coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They issued 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 issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock opened at $7.81 on Wednesday. The business has a 50 day simple moving average of $9.58 and a 200 day simple moving average of $9.34. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -5.24 and a beta of 0.55. Iovance Biotherapeutics, Inc. has a 12-month low of $6.70 and a 12-month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. The firm had revenue of $58.56 million for 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 previous year, the company earned ($0.46) earnings per share. On average, equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current fiscal 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.