39,377 Iovance Biotherapeutics, Inc. $IOVA Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. cut its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 27.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IOVA. Root Financial Partners LLC purchased a new stake in shares of Iovance Biotherapeutics in the third quarter valued at about $44,000. SBI Securities Co. Ltd. raised its stake in Iovance Biotherapeutics by 52.2% during the third quarter. SBI Securities Co. Ltd. now owns 18,805 shares of the biotechnology company’s stock worth $279,000 after purchasing an additional 6,450 shares during the period. Arcataur Capital Management LLC raised its stake in Iovance Biotherapeutics by 3.6% during the third quarter. Arcataur Capital Management LLC now owns 28,600 shares of the biotechnology company’s stock worth $424,000 after purchasing an additional 1,000 shares during the period. Revisor Wealth Management LLC purchased a new position in Iovance Biotherapeutics during the third quarter worth about $207,000. Finally, Abel Hall LLC boosted its holdings in Iovance Biotherapeutics by 10.4% in the 3rd quarter. Abel Hall LLC now owns 27,729 shares of the biotechnology company’s stock valued at $411,000 after purchasing an additional 2,610 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IOVA shares. Citigroup reissued an “outperform” rating on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. HC Wainwright raised their price target on shares of Iovance Biotherapeutics from $9.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, September 29th. Robert W. Baird lifted their price target on shares of Iovance Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. TD Cowen upped their price objective on Iovance Biotherapeutics from $7.00 to $10.00 and gave the company a “buy” rating in a report on Monday, August 24th. Finally, Mizuho upped their price objective on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

Iovance Biotherapeutics Price Performance

NASDAQ IOVA opened at $14.09 on Monday. The firm’s 50-day moving average is $10.94 and its two-hundred day moving average is $6.60. Iovance Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $15.37. The stock has a market capitalization of $6.38 billion, a P/E ratio of -19.30 and a beta of 0.76.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The business had revenue of $99.31 million during the quarter, compared to analysts’ expectations of $87.83 million. During the same period last year, the business earned ($0.33) earnings per share. The business’s revenue for the quarter was up 65.7% on a year-over-year basis. As a group, analysts anticipate 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.