Iovance Biotherapeutics, Inc. $IOVA Stock Sold by Wedbush Securities Inc.

Wedbush Securities Inc. lessened its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 27.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,096 shares of the biotechnology company’s stock after selling 39,377 shares during the quarter. Wedbush Securities Inc.’s holdings in Iovance Biotherapeutics were worth $1,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IOVA. KBC Group NV acquired a new position in Iovance Biotherapeutics during the 1st quarter worth about $34,000. Sanctuary Advisors LLC acquired a new position in Iovance Biotherapeutics in the 1st quarter valued at about $38,000. Fifth Third Bancorp acquired a new position in Iovance Biotherapeutics in the 1st quarter valued at about $39,000. Ceera Investments LLC purchased a new stake in Iovance Biotherapeutics during the first quarter worth about $44,000. Finally, Root Financial Partners LLC purchased a new stake in Iovance Biotherapeutics during the third quarter worth about $44,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Iovance Biotherapeutics from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. HC Wainwright raised their price target on shares of Iovance Biotherapeutics from $9.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, September 29th. Robert W. Baird boosted their price target on shares of Iovance Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. Citigroup restated an “outperform” rating on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Finally, Wells Fargo & Company upped their price objective on Iovance Biotherapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 30th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $13.20.

Iovance Biotherapeutics Price Performance

IOVA stock opened at $14.09 on Monday. The firm has a market capitalization of $6.38 billion, a P/E ratio of -19.30 and a beta of 0.76. The business’s 50-day moving average is $10.94 and its two-hundred day moving average is $6.60. Iovance Biotherapeutics, Inc. has a 1 year low of $1.76 and a 1 year high of $15.37.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%. The business had revenue of $99.31 million during the quarter, compared to analysts’ expectations of $87.83 million. During the same quarter last year, the business posted ($0.33) EPS. The business’s quarterly revenue was up 65.7% compared to the same quarter last year. On average, analysts expect that Iovance Biotherapeutics, Inc. will post -0.45 EPS for the current year.

Iovance Biotherapeutics Profile

Iovance Biotherapeutics, Inc (NASDAQ: IOVA) is a biotechnology company focused on developing and commercializing personalized cell therapies for patients with cancer. Its technology is based on tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded outside the body, and reinfused to help attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved in the United States for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.