Hennion & Walsh Asset Management Inc. Has $2.49 Million Stake 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% in the fourth quarter, Holdings Channel.com reports. The firm owned 335,981 shares of the biotechnology company’s stock after selling 15,468 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Iovance Biotherapeutics were worth $2,486,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in IOVA. Choreo LLC acquired a new position in Iovance Biotherapeutics during the 2nd quarter valued at about $116,000. Edgestream Partners L.P. purchased a new position in shares of Iovance Biotherapeutics in the 2nd quarter worth approximately $799,000. Virtu Financial LLC purchased a new position in shares of Iovance Biotherapeutics in the 2nd quarter worth approximately $755,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Iovance Biotherapeutics by 27.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 22,085 shares of the biotechnology company’s stock worth $177,000 after buying an additional 4,726 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in shares of Iovance Biotherapeutics by 13.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 74,592 shares of the biotechnology company’s stock worth $598,000 after buying an additional 8,800 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 2.6 %

NASDAQ:IOVA opened at $5.91 on Friday. The stock has a market capitalization of $1.80 billion, a PE ratio of -3.97 and a beta of 0.57. The firm’s 50 day moving average is $7.95 and its 200 day moving average is $9.13. Iovance Biotherapeutics, Inc. has a 12 month low of $5.62 and a 12 month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $58.56 million for the quarter, compared to analysts’ expectations of $53.54 million. During the same quarter in the previous year, the firm posted ($0.46) EPS. Research analysts predict that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current year.

Insider Buying and Selling at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total transaction of $503,000.00. Following the sale, the director now 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 legal filing with the SEC, which is available through this link. Insiders own 12.10% of the company’s stock.

Analyst Ratings Changes

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

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.