Hennion & Walsh Asset Management Inc. Has $2.49 Million Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Hennion & Walsh Asset Management Inc. lowered its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 335,981 shares of the biotechnology company’s stock after selling 15,468 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.11% of Iovance Biotherapeutics worth $2,486,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at $58,000. ORG Wealth Partners LLC bought a new position in Iovance Biotherapeutics during the 3rd quarter worth $89,000. Mirae Asset Global Investments Co. Ltd. raised its position in Iovance Biotherapeutics by 31.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 2,624 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Iovance Biotherapeutics during the 2nd quarter worth $107,000. Finally, Choreo LLC bought a new position in Iovance Biotherapeutics during the 2nd quarter worth $116,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Insider Activity at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the completion of the sale, the director now directly owns 7,500 shares of the company’s stock, valued at $75,450. The trade was a 86.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 12.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IOVA has been the subject of several analyst reports. UBS Group initiated coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Iovance Biotherapeutics Trading Up 2.6 %

IOVA stock opened at $5.91 on Friday. The stock has a 50-day moving average price of $7.95 and a 200-day moving average price of $9.13. Iovance Biotherapeutics, Inc. has a 1-year low of $5.62 and a 1-year high of $18.33. The firm has a market cap of $1.80 billion, a PE ratio of -3.97 and a beta of 0.57.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $58.56 million during the quarter, compared to analyst estimates of $53.54 million. During the same period in the previous year, the company posted ($0.46) EPS. On average, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current year.

Iovance Biotherapeutics 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.