Algert Global LLC Buys 18,784 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Algert Global LLC grew its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 53.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,070 shares of the biotechnology company’s stock after buying an additional 18,784 shares during the period. Algert Global LLC’s holdings in Iovance Biotherapeutics were worth $508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC purchased a new position in Iovance Biotherapeutics during the third quarter valued at approximately $920,000. Marshall Wace LLP bought a new position in Iovance Biotherapeutics in the 2nd quarter valued at $12,929,000. Magnetar Financial LLC purchased a new position in shares of Iovance Biotherapeutics during the 2nd quarter valued at $661,000. Victory Capital Management Inc. increased its holdings in shares of Iovance Biotherapeutics by 399.4% in the third quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock worth $1,355,000 after purchasing an additional 115,387 shares during the period. Finally, DNB Asset Management AS raised its position in shares of Iovance Biotherapeutics by 65.5% in the second quarter. DNB Asset Management AS now owns 28,022 shares of the biotechnology company’s stock worth $224,000 after buying an additional 11,091 shares in the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IOVA has been the subject of several recent analyst reports. UBS Group started coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. Finally, StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Insider Activity

In related news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was 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 $75,450. This represents 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.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA opened at $9.32 on Friday. The stock has a market capitalization of $2.84 billion, a P/E ratio of -6.26 and a beta of 0.60. Iovance Biotherapeutics, Inc. has a one year low of $5.76 and a one year high of $18.33. The firm’s 50 day simple moving average is $9.82 and its two-hundred day simple moving average is $9.47.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. The company had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. During the same quarter last year, the firm earned ($0.46) EPS. As a group, equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.25 earnings per share for the current fiscal year.

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.