Braidwell LP Sells 1,248,682 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Braidwell LP trimmed its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 85.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 217,928 shares of the biotechnology company’s stock after selling 1,248,682 shares during the quarter. Braidwell LP’s holdings in Iovance Biotherapeutics were worth $2,046,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC acquired a new stake in Iovance Biotherapeutics in the second quarter valued at approximately $32,000. Quest Partners LLC lifted its holdings in shares of Iovance Biotherapeutics by 1,237.7% in 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 acquired a new stake in Iovance Biotherapeutics in the 2nd quarter valued at $58,000. Daiwa Securities Group Inc. grew its position in Iovance Biotherapeutics by 754.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 7,781 shares during the period. Finally, Abacus Planning Group Inc. bought a new stake in Iovance Biotherapeutics during the 2nd quarter valued at $82,000. 77.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the business’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 $75,450. The trade was a 86.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.10% of the company’s stock.

Iovance Biotherapeutics Stock Up 3.1 %

Iovance Biotherapeutics stock opened at $9.40 on Friday. The stock has a market cap of $2.86 billion, a P/E ratio of -6.31 and a beta of 0.60. The company’s 50 day moving average price is $9.84 and its two-hundred day moving average price is $9.48. Iovance Biotherapeutics, Inc. has a 52 week low of $5.41 and a 52 week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted 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 analyst estimates 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 business earned ($0.46) earnings per share. On average, equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on IOVA shares. UBS Group began coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $17.00 price objective on the stock. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Finally, HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.33.

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.