State Street Corp Purchases 576,801 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

State Street Corp boosted its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,201,978 shares of the biotechnology company’s stock after buying an additional 576,801 shares during the period. State Street Corp’s holdings in Iovance Biotherapeutics were worth $123,967,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IOVA. ORG Partners LLC bought a new stake in shares of Iovance Biotherapeutics during the 2nd quarter valued at about $32,000. Quest Partners LLC lifted its position in Iovance Biotherapeutics by 1,237.7% during the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 4,629 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in Iovance Biotherapeutics during the second quarter valued at approximately $58,000. Daiwa Securities Group Inc. grew its stake in Iovance Biotherapeutics by 754.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after buying an additional 7,781 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new position in shares of Iovance Biotherapeutics in the 2nd quarter worth $82,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on IOVA. UBS Group started coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock opened at $7.83 on Friday. The business has a 50-day moving average of $9.63 and a 200 day moving average of $9.35. Iovance Biotherapeutics, Inc. has a 1-year low of $6.70 and a 1-year high of $18.33. The stock has a market capitalization of $2.39 billion, a PE ratio of -5.25 and a beta of 0.55.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $58.56 million during the quarter, compared to analyst estimates of $53.54 million. During the same quarter in the prior year, the firm posted ($0.46) earnings per share. Analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total transaction of $503,000.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at approximately $75,450. This represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.10% of the company’s stock.

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.