Impact Partnership Wealth LLC Makes New $83,000 Investment in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Impact Partnership Wealth LLC acquired a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,183 shares of the biotechnology company’s stock, valued at approximately $83,000.

A number of other hedge funds have also recently bought and sold shares of IOVA. Perceptive Advisors LLC boosted its holdings in shares of Iovance Biotherapeutics by 34.6% in the 2nd quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock worth $207,984,000 after buying an additional 6,660,151 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter worth about $12,927,000. Marshall Wace LLP purchased a new position in shares of Iovance Biotherapeutics in the 2nd quarter worth about $12,929,000. Principal Financial Group Inc. boosted its holdings in shares of Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after buying an additional 1,496,941 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Iovance Biotherapeutics by 4.6% in the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock worth $123,967,000 after buying an additional 576,801 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Up 1.0 %

Shares of IOVA opened at $6.25 on Friday. The business’s 50-day moving average price is $7.63 and its 200-day moving average price is $9.10. Iovance Biotherapeutics, Inc. has a twelve month low of $5.57 and a twelve month high of $18.33. The stock 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 quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating 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 analysts’ expectations of $53.54 million. During the same period in the prior year, the business posted ($0.46) earnings per share. Analysts expect that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IOVA shares. UBS Group started coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.00.

Insider Activity

In other news, Director Ryan D. Maynard sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the sale, the director now directly owns 7,500 shares in the company, valued at $75,450. This represents a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company 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.