Hsbc Holdings PLC Sells 153,057 Shares of Iovance Biotherapeutics, Inc. $IOVA

Hsbc Holdings PLC cut its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 84.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,484 shares of the biotechnology company’s stock after selling 153,057 shares during the period. Hsbc Holdings PLC’s holdings in Iovance Biotherapeutics were worth $98,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Kestra Advisory Services LLC grew its position in Iovance Biotherapeutics by 242.4% in the first quarter. Kestra Advisory Services LLC now owns 34,891 shares of the biotechnology company’s stock valued at $122,000 after purchasing an additional 24,700 shares in the last quarter. Granite Investment Partners LLC lifted its position in Iovance Biotherapeutics by 77.1% during the 1st quarter. Granite Investment Partners LLC now owns 18,843 shares of the biotechnology company’s stock worth $66,000 after buying an additional 8,205 shares in the last quarter. Abel Hall LLC bought a new stake in Iovance Biotherapeutics during the 1st quarter worth about $86,000. Pictet Asset Management Holding SA boosted its stake in shares of Iovance Biotherapeutics by 58.7% during the 1st quarter. Pictet Asset Management Holding SA now owns 43,048 shares of the biotechnology company’s stock worth $151,000 after buying an additional 15,926 shares during the last quarter. Finally, Sugar Maple Asset Management LLC boosted its stake in shares of Iovance Biotherapeutics by 9.1% during the 1st quarter. Sugar Maple Asset Management LLC now owns 120,000 shares of the biotechnology company’s stock worth $421,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 0.9%

NASDAQ IOVA opened at $4.36 on Wednesday. The firm has a market capitalization of $1.95 billion, a P/E ratio of -4.59 and a beta of 0.71. The firm’s fifty day moving average price is $4.32 and its two-hundred day moving average price is $3.74. Iovance Biotherapeutics, Inc. has a 1 year low of $1.76 and a 1 year high of $5.64.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.19) EPS for the quarter, meeting analysts’ consensus estimates of ($0.19). The company had revenue of $71.43 million during the quarter, compared to the consensus estimate of $77.84 million. Iovance Biotherapeutics had a negative net margin of 123.92% and a negative return on equity of 50.17%. The company’s quarterly revenue was up 44.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.36) EPS. On average, research analysts anticipate that Iovance Biotherapeutics, Inc. will post -0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IOVA shares. Chardan Capital lowered their target price on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.43.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.