UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 47,658 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,946,842 shares of the biotechnology company’s stock after selling 47,658 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.64% of Iovance Biotherapeutics worth $18,281,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. ORG Partners LLC purchased a new position in Iovance Biotherapeutics during the second quarter valued at $32,000. Quest Partners LLC increased its holdings 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 worth $40,000 after buying an additional 4,629 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at about $58,000. Daiwa Securities Group Inc. grew its position 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 worth $71,000 after acquiring an additional 7,781 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in Iovance Biotherapeutics during the third quarter valued at approximately $89,000. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA opened at $9.03 on Friday. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -6.06 and a beta of 0.55. Iovance Biotherapeutics, Inc. has a 52-week low of $6.00 and a 52-week high of $18.33. The stock has a 50 day moving average price of $9.76 and a 200 day moving average price of $9.41.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. The business had revenue of $58.56 million during the quarter, compared to analyst estimates of $53.54 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. During the same period in the prior year, the firm posted ($0.46) earnings per share. Analysts forecast that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IOVA. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. UBS Group assumed coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Insider Transactions at Iovance Biotherapeutics

In other news, Director Ryan D. Maynard sold 50,000 shares of the firm’s 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 owns 7,500 shares of the company’s stock, valued at $75,450. This trade represents a 86.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.