Sanders Morris Harris LLC Has $76,000 Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Sanders Morris Harris LLC cut its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 36.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,250 shares of the biotechnology company’s stock after selling 5,950 shares during the period. Sanders Morris Harris LLC’s holdings in Iovance Biotherapeutics were worth $76,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in IOVA. Barclays PLC increased its holdings in Iovance Biotherapeutics by 118.8% in the third quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock worth $5,677,000 after buying an additional 328,284 shares during the last quarter. Principal Financial Group Inc. grew its position in Iovance Biotherapeutics by 59.0% in the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after acquiring an additional 1,496,941 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Iovance Biotherapeutics during the 3rd quarter worth $920,000. State Street Corp raised its holdings in shares of Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock valued at $123,967,000 after purchasing an additional 576,801 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at $12,929,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Down 1.5 %

IOVA stock traded down $0.09 during mid-day trading on Thursday, reaching $5.82. 607,346 shares of the stock traded hands, compared to its average volume of 9,701,952. The firm has a market capitalization of $1.77 billion, a PE ratio of -3.91 and a beta of 0.57. The business has a 50-day moving average of $8.17 and a two-hundred day moving average of $9.17. Iovance Biotherapeutics, Inc. has a 52 week low of $5.77 and a 52 week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. During the same quarter last year, the firm posted ($0.46) EPS. On average, equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group initiated coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 target price 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Insider Transactions at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction dated 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 owns 7,500 shares in the company, valued at approximately $75,450. This trade represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.10% of the stock is currently owned by corporate insiders.

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.