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

Braidwell LP decreased its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 85.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 217,928 shares of the biotechnology company’s stock after selling 1,248,682 shares during the period. Braidwell LP owned approximately 0.07% of Iovance Biotherapeutics worth $2,046,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC bought a new position in Iovance Biotherapeutics in the second quarter valued at about $32,000. Quest Partners LLC boosted its stake 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 bought a new stake in shares of Iovance Biotherapeutics during the 2nd quarter valued at approximately $58,000. Daiwa Securities Group Inc. increased its position 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 purchasing an additional 7,781 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new position in Iovance Biotherapeutics in the 2nd quarter valued at approximately $82,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $9.40 on Friday. The firm has a market cap of $2.86 billion, a P/E ratio of -6.31 and a beta of 0.60. The stock’s 50 day moving average is $9.84 and its 200 day moving average is $9.48. Iovance Biotherapeutics, Inc. has a one year low of $5.41 and a one year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) 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 firm had revenue of $58.56 million for the quarter, compared to the consensus estimate of $53.54 million. During the same quarter in the previous year, the company earned ($0.46) EPS. Equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.25 earnings per share for the current fiscal year.

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 stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.10% of the company’s stock.

Analyst Ratings Changes

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