Braidwell LP Has $2.05 Million Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Braidwell LP reduced its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 85.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 217,928 shares of the biotechnology company's stock after selling 1,248,682 shares during the period. Braidwell LP owned about 0.07% of Iovance Biotherapeutics worth $2,046,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IOVA. ORG Partners LLC acquired a new stake in Iovance Biotherapeutics during the 2nd quarter valued at $32,000. Quest Partners LLC raised its position in Iovance Biotherapeutics by 1,237.7% during the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company's stock valued at $40,000 after buying an additional 4,629 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in Iovance Biotherapeutics in the 2nd quarter worth about $58,000. Daiwa Securities Group Inc. boosted 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 acquiring an additional 7,781 shares during the period. Finally, Abacus Planning Group Inc. purchased a new position in Iovance Biotherapeutics during the 2nd quarter valued at about $82,000. Institutional investors and hedge funds own 77.03% of the company's stock.

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA traded down $0.08 during trading hours on Friday, reaching $9.32. The company's stock had a trading volume of 2,864,417 shares, compared to its average volume of 7,303,426. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -6.26 and a beta of 0.60. Iovance Biotherapeutics, Inc. has a one year low of $5.76 and a one year high of $18.33. The business's 50-day moving average is $9.82 and its 200-day moving average is $9.47.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings results 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 company had revenue of $58.56 million during the quarter, compared to the consensus estimate of $53.54 million. During the same quarter in the prior year, the company posted ($0.46) EPS. On average, sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics stock in a transaction 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 transaction, the director now owns 7,500 shares in the company, valued at $75,450. This trade represents a 86.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate 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.