Centiva Capital LP Acquires New Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Centiva Capital LP bought a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the third quarter, HoldingsChannel reports. The fund bought 16,625 shares of the biotechnology company’s stock, valued at approximately $156,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Perceptive Advisors LLC lifted its holdings in shares of Iovance Biotherapeutics by 34.6% during the 2nd quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock valued at $207,984,000 after buying an additional 6,660,151 shares during the last quarter. Long Focus Capital Management LLC increased its stake in shares of Iovance Biotherapeutics by 195.1% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock worth $33,139,000 after purchasing an additional 2,731,688 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Iovance Biotherapeutics by 59.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after purchasing an additional 1,496,941 shares during the last quarter. Hood River Capital Management LLC lifted its stake in shares of Iovance Biotherapeutics by 4.1% in the 2nd quarter. Hood River Capital Management LLC now owns 2,732,427 shares of the biotechnology company’s stock valued at $21,914,000 after purchasing an additional 108,189 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its holdings in Iovance Biotherapeutics by 2.6% in the third quarter. Rice Hall James & Associates LLC now owns 1,679,157 shares of the biotechnology company’s stock worth $15,767,000 after purchasing an additional 43,132 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Insider Buying and Selling

In related news, Director Ryan D. Maynard sold 50,000 shares of the business’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 sale, the director now owns 7,500 shares of the company’s stock, valued at $75,450. The trade was a 86.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.10% of the company’s stock.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $7.83 on Friday. The firm has a fifty day moving average price of $9.63 and a two-hundred day moving average price of $9.35. Iovance Biotherapeutics, Inc. has a fifty-two week low of $6.70 and a fifty-two week high of $18.33. The company has a market cap of $2.39 billion, a PE 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) EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 58.43% and a negative net margin of 451.25%. During the same period in the prior year, the company posted ($0.46) earnings per share. Analysts expect that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IOVA. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. UBS Group started coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, 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.