Los Angeles Capital Management LLC Has $580,000 Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Los Angeles Capital Management LLC grew its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 156.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,759 shares of the biotechnology company’s stock after purchasing an additional 37,635 shares during the period. Los Angeles Capital Management LLC’s holdings in Iovance Biotherapeutics were worth $580,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Perceptive Advisors LLC raised its stake in Iovance Biotherapeutics by 34.6% during the 2nd quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock worth $207,984,000 after buying an additional 6,660,151 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock valued at $369,245,000 after purchasing an additional 2,102,480 shares in the last quarter. Avoro Capital Advisors LLC grew its position in shares of Iovance Biotherapeutics by 74.6% in the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock valued at $173,394,000 after purchasing an additional 5,000,000 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Iovance Biotherapeutics by 60.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock worth $78,071,000 after purchasing an additional 1,991,262 shares in the last quarter. Finally, Long Focus Capital Management LLC raised its holdings in Iovance Biotherapeutics by 195.1% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock worth $33,139,000 after buying an additional 2,731,688 shares during the period. 77.03% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Ryan D. Maynard sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the completion of the sale, the director now directly owns 7,500 shares of the company’s stock, valued at $75,450. This trade represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 12.10% of the company’s stock.

Iovance Biotherapeutics Stock Performance

IOVA opened at $8.18 on Friday. The business’s 50-day simple moving average is $10.04 and its 200 day simple moving average is $9.73. The firm has a market capitalization of $2.49 billion, a PE ratio of -5.49 and a beta of 0.60. Iovance Biotherapeutics, Inc. has a 52-week low of $4.33 and a 52-week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. The company had revenue of $58.56 million for the quarter, compared to analysts’ expectations of $53.54 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. During the same quarter in the prior year, the business posted ($0.46) EPS. On average, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.25 earnings per share for the current year.

Analysts Set New Price Targets

IOVA has been the subject of several research analyst reports. UBS Group assumed coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $19.00 to $10.00 in a research note on Monday, July 29th. Finally, StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.33.

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.