Barclays PLC Raises Stock Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Barclays PLC lifted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 118.8% during the third quarter, Holdings Channel reports. The fund owned 604,584 shares of the biotechnology company’s stock after purchasing an additional 328,284 shares during the quarter. Barclays PLC’s holdings in Iovance Biotherapeutics were worth $5,677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quest Partners LLC boosted 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 last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Iovance Biotherapeutics during the second quarter valued at approximately $58,000. Daiwa Securities Group Inc. boosted its position in Iovance Biotherapeutics by 754.0% during 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 during the last quarter. ORG Wealth Partners LLC purchased a new stake in Iovance Biotherapeutics in the 3rd quarter worth approximately $89,000. Finally, Abacus Planning Group Inc. acquired a new position in Iovance Biotherapeutics in the 2nd quarter valued at $82,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on IOVA. UBS Group initiated coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. One equities 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.33.

Insider Buying and Selling at Iovance Biotherapeutics

In other news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $75,450. This trade represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.10% of the stock is currently owned by corporate insiders.

Iovance Biotherapeutics Stock Performance

IOVA opened at $7.38 on Friday. Iovance Biotherapeutics, Inc. has a 1 year low of $6.70 and a 1 year high of $18.33. The firm has a 50 day moving average price of $9.45 and a 200 day moving average price of $9.30. The company has a market cap of $2.25 billion, a PE ratio of -4.95 and a beta of 0.55.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data 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. The company 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 quarter in the prior year, the business earned ($0.46) earnings per share. On average, sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current year.

Iovance Biotherapeutics 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.