Moody Aldrich Partners LLC lessened its stake in shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 23.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,755 shares of the biotechnology company’s stock after selling 20,030 shares during the period. Moody Aldrich Partners LLC owned about 0.05% of Iovance Biotherapeutics worth $1,778,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of IOVA. Lindbrook Capital LLC acquired a new position in Iovance Biotherapeutics during the second quarter worth $27,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Iovance Biotherapeutics in the 1st quarter valued at about $56,000. Marshall Wace LLP acquired a new position in Iovance Biotherapeutics during the fourth quarter worth approximately $54,000. Red Door Wealth Management LLC bought a new position in shares of Iovance Biotherapeutics during the 1st quarter worth approximately $59,000. Finally, GQ Asset Management LLC bought a new stake in Iovance Biotherapeutics in the 1st quarter valued at $81,000. Hedge funds and other institutional investors own 95.52% of the company’s stock.
NASDAQ:IOVA traded up $0.22 during trading hours on Friday, reaching $29.07. The company had a trading volume of 1,149,348 shares, compared to its average volume of 927,669. Iovance Biotherapeutics Inc has a twelve month low of $17.67 and a twelve month high of $41.49. The company has a quick ratio of 6.48, a current ratio of 6.48 and a debt-to-equity ratio of 0.01. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of -15.89 and a beta of 1.10. The business’s 50-day simple moving average is $29.25 and its two-hundred day simple moving average is $29.78.
Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.02). As a group, equities analysts predict that Iovance Biotherapeutics Inc will post -2.08 earnings per share for the current year.
A number of research firms have recently issued reports on IOVA. Mizuho restated a “buy” rating and set a $61.00 target price on shares of Iovance Biotherapeutics in a research note on Tuesday, May 5th. BidaskClub cut Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a report on Thursday, June 4th. Stifel Nicolaus increased their target price on Iovance Biotherapeutics from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. HC Wainwright lifted their price target on Iovance Biotherapeutics from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Chardan Capital reaffirmed a “buy” rating on shares of Iovance Biotherapeutics in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.69.
Iovance Biotherapeutics Company Profile
Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is lifileucel, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.
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