Quantitative Systematic Strategies LLC bought a new position in Lion Biotechnologies Inc. (NASDAQ:LBIO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,452 shares of the biotechnology company’s stock, valued at approximately $178,000.
Separately, Bank of Montreal Can purchased a new position in shares of Lion Biotechnologies during the second quarter worth $151,000. Institutional investors own 75.45% of the company’s stock.
Shares of Lion Biotechnologies Inc. (NASDAQ:LBIO) remained flat at $6.40 during midday trading on Tuesday. 130,485 shares of the company’s stock traded hands. The firm’s market cap is $373.99 million. The firm’s 50 day moving average price is $7.81 and its 200-day moving average price is $7.37. Lion Biotechnologies Inc. has a 12-month low of $4.24 and a 12-month high of $9.58.
Lion Biotechnologies (NASDAQ:LBIO) last posted its earnings results on Monday, August 8th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.04. Equities research analysts anticipate that Lion Biotechnologies Inc. will post ($0.88) EPS for the current fiscal year.
A number of brokerages have recently weighed in on LBIO. Roth Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of Lion Biotechnologies in a research report on Saturday, July 9th. Chardan Capital set a $20.00 price target on Lion Biotechnologies and gave the company a “buy” rating in a research report on Sunday, August 21st. Finally, Zacks Investment Research lowered Lion Biotechnologies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.17.
In related news, Director Sanford Hillsberg sold 54,000 shares of Lion Biotechnologies stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $9.11, for a total transaction of $491,940.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 11.80% of the company’s stock.
About Lion Biotechnologies
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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