RS Investment Management Co. LLC decreased its position in Lion Biotechnologies Inc. (NASDAQ:LBIO) by 17.8% during the second quarter, Holdings Channel reports. The firm owned 2,214,585 shares of the biotechnology company’s stock after selling 479,913 shares during the period. RS Investment Management Co. LLC’s holdings in Lion Biotechnologies were worth $17,938,000 as of its most recent filing with the SEC.
Separately, Bank of Montreal Can acquired a new position in shares of Lion Biotechnologies during the second quarter worth $151,000. Institutional investors and hedge funds own 75.54% of the company’s stock.
Shares of Lion Biotechnologies Inc. (NASDAQ:LBIO) traded down 2.56% during mid-day trading on Friday, hitting $7.99. 321,868 shares of the stock traded hands. The stock has a 50-day moving average of $8.53 and a 200-day moving average of $7.05. The company’s market cap is $466.90 million. Lion Biotechnologies Inc. has a 52 week low of $4.24 and a 52 week high of $9.58.
Lion Biotechnologies (NASDAQ:LBIO) last issued its quarterly earnings results on Monday, August 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.04. Analysts anticipate that Lion Biotechnologies Inc. will post ($0.88) EPS for the current year.
A number of brokerages have recently weighed in on LBIO. FBR & Co reissued a “buy” rating on shares of Lion Biotechnologies in a research note on Monday, June 6th. Chardan Capital reaffirmed a “buy” rating on shares of Lion Biotechnologies in a research note on Saturday, June 4th. Roth Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Lion Biotechnologies in a research note on Friday, August 26th. Zacks Investment Research cut shares of Lion Biotechnologies from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Finally, SunTrust Banks Inc. cut shares of Lion Biotechnologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $37.00 to $30.50 in a research note on Monday, June 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Lion Biotechnologies has a consensus rating of “Buy” and a consensus target price of $19.17.
In other news, Director Sanford Hillsberg sold 54,000 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $8.95, for a total value of $483,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.80% of the stock is currently owned by insiders.
Lion Biotechnologies Company Profile
Lion Biotechnologies, Inc is a clinical-stage biotechnology company. The Company is focused on developing and commercializing cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead pipeline candidate, LN-144, is an adoptive cell therapy using tumor-infiltrating lymphocytes (TIL) to treat patients with refractory metastatic melanoma.
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