Arkadios Wealth Advisors Purchases New Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Arkadios Wealth Advisors purchased a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 20,242 shares of the biotechnology company’s stock, valued at approximately $150,000.

Several other hedge funds have also added to or reduced their stakes in IOVA. EverSource Wealth Advisors LLC acquired a new position in Iovance Biotherapeutics in the second quarter valued at about $58,000. ORG Wealth Partners LLC acquired a new position in Iovance Biotherapeutics in the third quarter valued at about $89,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Iovance Biotherapeutics by 31.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 2,624 shares during the period. Assetmark Inc. raised its position in shares of Iovance Biotherapeutics by 48.0% during the third quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 4,167 shares during the period. Finally, DRW Securities LLC acquired a new stake in shares of Iovance Biotherapeutics during the third quarter worth about $121,000. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $6.25 on Friday. The business’s 50 day simple moving average is $7.63 and its 200 day simple moving average is $9.09. Iovance Biotherapeutics, Inc. has a 52-week low of $5.57 and a 52-week high of $18.33. The firm has a market cap of $1.90 billion, a PE ratio of -4.19 and a beta of 0.57.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. The business had revenue of $58.56 million for 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 quarter last year, the firm earned ($0.46) EPS. As a group, equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on IOVA shares. UBS Group started coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Insider Buying and Selling at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 7,500 shares in the company, valued at $75,450. This trade 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 available through this link. Corporate insiders own 12.10% of the company’s stock.

About Iovance Biotherapeutics

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.