Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Bought by Portland Investment Counsel Inc.

Portland Investment Counsel Inc. increased its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 33.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,000 shares of the biotechnology company’s stock after purchasing an additional 10,000 shares during the quarter. Portland Investment Counsel Inc.’s holdings in Iovance Biotherapeutics were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of IOVA. Intech Investment Management LLC acquired a new stake in Iovance Biotherapeutics during the 3rd quarter valued at approximately $920,000. Marshall Wace LLP acquired a new stake in shares of Iovance Biotherapeutics during the second quarter worth approximately $12,929,000. Magnetar Financial LLC bought a new stake in shares of Iovance Biotherapeutics in the second quarter worth $661,000. Victory Capital Management Inc. raised its holdings in Iovance Biotherapeutics by 399.4% in the third quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock valued at $1,355,000 after acquiring an additional 115,387 shares in the last quarter. Finally, DNB Asset Management AS boosted its stake in Iovance Biotherapeutics by 65.5% during the 2nd quarter. DNB Asset Management AS now owns 28,022 shares of the biotechnology company’s stock valued at $224,000 after acquiring an additional 11,091 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Trading Down 0.9 %

NASDAQ:IOVA opened at $9.32 on Friday. The firm has a market capitalization of $2.84 billion, a PE ratio of -6.31 and a beta of 0.60. Iovance Biotherapeutics, Inc. has a 52 week low of $5.76 and a 52 week high of $18.33. The stock has a 50 day moving average of $9.84 and a 200-day moving average of $9.48.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.03. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. During the same period last year, the company earned ($0.46) earnings per share. As a group, analysts predict that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. UBS Group started coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $17.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. Finally, StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Insider Buying and Selling

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were 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 owns 7,500 shares in the company, valued at approximately $75,450. This represents a 86.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.10% of the company’s stock.

Iovance Biotherapeutics Company 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.