DRW Securities LLC Buys New Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

DRW Securities LLC purchased a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 12,854 shares of the biotechnology company’s stock, valued at approximately $121,000.

A number of other large investors also recently modified their holdings of the business. ORG Partners LLC acquired a new stake in Iovance Biotherapeutics during the second quarter worth about $32,000. Quest Partners LLC grew its holdings in shares of Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 4,629 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Iovance Biotherapeutics during the second quarter valued at approximately $58,000. Daiwa Securities Group Inc. raised its stake in shares of Iovance Biotherapeutics by 754.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 7,781 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new position in Iovance Biotherapeutics in the second quarter worth $82,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports 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 research 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 given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Insider Activity at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $75,450. This trade represents a 86.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.10% of the stock is currently owned by company insiders.

Iovance Biotherapeutics Stock Performance

Iovance Biotherapeutics stock opened at $9.40 on Thursday. The business’s fifty day moving average is $9.87 and its two-hundred day moving average is $9.48. The firm has a market cap of $2.86 billion, a P/E ratio of -6.12 and a beta of 0.60. Iovance Biotherapeutics, Inc. has a 52 week low of $5.41 and a 52 week high of $18.33.

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

About Iovance Biotherapeutics

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.