E Fund Management Co. Ltd. Sells 10,112 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

E Fund Management Co. Ltd. lowered its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,738 shares of the biotechnology company’s stock after selling 10,112 shares during the period. E Fund Management Co. Ltd.’s holdings in Iovance Biotherapeutics were worth $543,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IOVA. China Universal Asset Management Co. Ltd. lifted its stake in Iovance Biotherapeutics by 116.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,356 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 3,414 shares during the last quarter. Annandale Capital LLC bought a new stake in shares of Iovance Biotherapeutics in the 3rd quarter valued at about $32,000. Clear Street Markets LLC bought a new stake in shares of Iovance Biotherapeutics in the 3rd quarter valued at about $35,000. Pathstone Family Office LLC bought a new stake in shares of Iovance Biotherapeutics in the 3rd quarter valued at about $48,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Iovance Biotherapeutics by 284.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 5,577 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

Insider Transactions at Iovance Biotherapeutics

In other news, Director Merrill A. Mcpeak bought 250,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average price of $9.15 per share, with a total value of $2,287,500.00. Following the transaction, the director now owns 320,150 shares of the company’s stock, valued at $2,929,372.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 10.40% of the company’s stock.

Iovance Biotherapeutics Stock Down 4.2 %

Shares of NASDAQ:IOVA traded down $0.59 during trading on Wednesday, hitting $13.39. The stock had a trading volume of 4,195,241 shares, compared to its average volume of 8,061,181. Iovance Biotherapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $18.33. The company has a market capitalization of $3.75 billion, a PE ratio of -7.12 and a beta of 0.66. The firm’s fifty day moving average is $13.76 and its 200 day moving average is $9.73.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.01). The firm had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $1.44 million. During the same period in the prior year, the company earned ($0.64) earnings per share. Equities research analysts expect that Iovance Biotherapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JMP Securities boosted their target price on Iovance Biotherapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 20th. Chardan Capital boosted their target price on Iovance Biotherapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Thursday, February 29th. Piper Sandler upped their price target on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Finally, Wells Fargo & Company upped their price target on Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.64.

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.