Arete Wealth Advisors LLC Sells 28,800 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Arete Wealth Advisors LLC cut its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 45.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,600 shares of the biotechnology company’s stock after selling 28,800 shares during the period. Arete Wealth Advisors LLC’s holdings in Iovance Biotherapeutics were worth $325,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in Iovance Biotherapeutics in the second quarter valued at approximately $32,000. Quest Partners LLC boosted its holdings in Iovance Biotherapeutics by 1,237.7% in the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 4,629 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in Iovance Biotherapeutics in the second quarter valued at approximately $58,000. Daiwa Securities Group Inc. boosted its holdings in Iovance Biotherapeutics by 754.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 7,781 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Iovance Biotherapeutics in the third quarter valued at approximately $89,000. 77.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group assumed coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $17.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $32.00 price target 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Insider Transactions at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $75,450. This represents a 86.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.10% of the stock is owned by insiders.

Iovance Biotherapeutics Stock Down 1.6 %

Shares of NASDAQ:IOVA opened at $7.83 on Friday. Iovance Biotherapeutics, Inc. has a twelve month low of $6.70 and a twelve month high of $18.33. The stock’s 50 day moving average is $9.63 and its 200-day moving average is $9.35. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -5.25 and a beta of 0.55.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results 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 return on equity of 58.43% and a negative net margin of 451.25%. The company had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. During the same period in the prior year, the firm earned ($0.46) earnings per share. Equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

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.