Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Sold by PFM Health Sciences LP

PFM Health Sciences LP lessened its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 13.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,152 shares of the biotechnology company’s stock after selling 20,643 shares during the period. PFM Health Sciences LP’s holdings in Iovance Biotherapeutics were worth $1,241,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IOVA. Intech Investment Management LLC purchased a new stake in shares of Iovance Biotherapeutics during the 3rd quarter worth $920,000. Marshall Wace LLP purchased a new stake in Iovance Biotherapeutics during the second quarter worth approximately $12,929,000. Magnetar Financial LLC purchased a new position in Iovance Biotherapeutics in the second quarter valued at approximately $661,000. Victory Capital Management Inc. lifted its position in shares of Iovance Biotherapeutics by 399.4% during the 3rd quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock worth $1,355,000 after buying an additional 115,387 shares during the last quarter. Finally, DNB Asset Management AS grew its position in shares of Iovance Biotherapeutics by 65.5% in the 2nd quarter. DNB Asset Management AS now owns 28,022 shares of the biotechnology company’s stock valued at $224,000 after buying an additional 11,091 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Trading Down 0.9 %

NASDAQ:IOVA opened at $9.32 on Friday. The company has a market capitalization of $2.84 billion, a P/E ratio of -6.25 and a beta of 0.60. The firm has a 50-day moving average price of $9.82 and a two-hundred day moving average price of $9.47. Iovance Biotherapeutics, Inc. has a twelve month low of $5.76 and a twelve month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $58.56 million during the quarter, compared to analysts’ expectations of $53.54 million. During the same period last year, the company posted ($0.46) EPS. On average, equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Iovance Biotherapeutics

In other news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total transaction of $503,000.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 12.10% of the company’s stock.

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.