97,958 Shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Acquired by Intech Investment Management LLC

Intech Investment Management LLC bought a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 97,958 shares of the biotechnology company’s stock, valued at approximately $920,000.

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

Iovance Biotherapeutics Trading Up 3.1 %

Shares of Iovance Biotherapeutics stock opened at $9.40 on Friday. The stock has a fifty day simple moving average of $9.86 and a 200 day simple moving average of $9.48. Iovance Biotherapeutics, Inc. has a 12-month low of $5.41 and a 12-month high of $18.33. The company has a market capitalization of $2.86 billion, a P/E ratio of -6.31 and a beta of 0.60.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $58.56 million during the quarter, compared to the consensus estimate of $53.54 million. During the same quarter in the prior year, the company posted ($0.46) earnings per share. On average, analysts predict that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current year.

Insiders Place Their Bets

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 7,500 shares of the company’s stock, valued at approximately $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Finally, UBS Group initiated coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average 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.