Geode Capital Management LLC Cuts Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Geode Capital Management LLC decreased its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,648,995 shares of the biotechnology company's stock after selling 137,537 shares during the period. Geode Capital Management LLC owned 1.85% of Iovance Biotherapeutics worth $53,053,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Quest Partners LLC raised its stake in shares of Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 4,629 shares during the period. EverSource Wealth Advisors LLC bought a new stake in Iovance Biotherapeutics in the second quarter worth about $58,000. Daiwa Securities Group Inc. boosted its stake 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. Abacus Planning Group Inc. bought a new position in shares of Iovance Biotherapeutics during the 2nd quarter valued at approximately $82,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Iovance Biotherapeutics during the 3rd quarter worth approximately $89,000. Institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Price Performance

IOVA stock traded up $0.08 during mid-day trading on Monday, reaching $7.46. 7,330,109 shares of the company traded hands, compared to its average volume of 7,196,129. The company has a fifty day moving average price of $9.41 and a 200-day moving average price of $9.31. Iovance Biotherapeutics, Inc. has a 52-week low of $6.70 and a 52-week high of $18.33. The company has a market capitalization of $2.27 billion, a P/E ratio of -5.01 and a beta of 0.55.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, beating the consensus estimate 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 company had revenue of $58.56 million during the quarter, compared to analysts' expectations of $53.54 million. During the same quarter in the previous year, the company earned ($0.46) earnings per share. As a group, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current year.

Insider Transactions at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of the company's 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 transaction, the director now directly owns 7,500 shares in the company, valued at approximately $75,450. This represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.10% of the company's stock.

Analyst Ratings Changes

IOVA has been the subject of several research reports. HC Wainwright reissued a "buy" rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group started coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a "buy" rating and a $17.00 price target 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 stock. According to MarketBeat, Iovance Biotherapeutics 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.