PFM Health Sciences LP Lowers Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

PFM Health Sciences LP lowered its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 13.5% in the 3rd quarter, according to its most recent Form 13F 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.

Several other hedge funds also recently added to or reduced their stakes in the stock. ORG Partners LLC acquired a new stake in shares of Iovance Biotherapeutics during the second quarter valued at about $32,000. Quest Partners LLC raised its position 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 valued at $40,000 after purchasing an additional 4,629 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Iovance Biotherapeutics during the 2nd quarter valued at approximately $58,000. Daiwa Securities Group Inc. grew its position in shares of Iovance Biotherapeutics by 754.0% during the second 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 in the last quarter. Finally, Abacus Planning Group Inc. bought a new stake in shares of Iovance Biotherapeutics in the second quarter worth $82,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Iovance Biotherapeutics Stock Down 0.9 %

Iovance Biotherapeutics stock opened at $9.32 on Friday. 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 52-week low of $5.76 and a 52-week high of $18.33. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of -6.25 and a beta of 0.60.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data 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 return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $58.56 million during the quarter, compared to the consensus estimate of $53.54 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. Research analysts expect that Iovance Biotherapeutics, Inc. will post -1.25 earnings per share for the current year.

Insider Transactions at Iovance Biotherapeutics

In other news, Director Ryan D. Maynard sold 50,000 shares of the 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 transaction, the director now directly owns 7,500 shares in the company, valued at $75,450. This trade represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.10% of the company’s stock.

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.