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

State Street Corp boosted its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,201,978 shares of the biotechnology company’s stock after acquiring an additional 576,801 shares during the quarter. State Street Corp owned 4.33% of Iovance Biotherapeutics worth $123,967,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Stifel Financial Corp lifted its holdings in shares of Iovance Biotherapeutics by 35.8% in the third quarter. Stifel Financial Corp now owns 223,107 shares of the biotechnology company’s stock valued at $2,095,000 after purchasing an additional 58,787 shares in the last quarter. Centiva Capital LP purchased a new stake in Iovance Biotherapeutics in the 3rd quarter valued at $156,000. Erste Asset Management GmbH bought a new position in Iovance Biotherapeutics during the 3rd quarter valued at $327,000. Portland Investment Counsel Inc. boosted its holdings in Iovance Biotherapeutics by 33.3% during the 3rd quarter. Portland Investment Counsel Inc. now owns 40,000 shares of the biotechnology company’s stock worth $376,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Iovance Biotherapeutics in the 3rd quarter worth $222,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Insider Buying and Selling at Iovance Biotherapeutics

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

Iovance Biotherapeutics Stock Down 1.6 %

Iovance Biotherapeutics stock opened at $7.83 on Friday. The company has a market capitalization of $2.39 billion, a P/E ratio of -5.25 and a beta of 0.55. The firm has a 50 day moving average price of $9.63 and a 200-day moving average price of $9.35. Iovance Biotherapeutics, Inc. has a twelve month low of $6.70 and a twelve month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.03. The firm had revenue of $58.56 million during the quarter, compared to the consensus estimate 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 company earned ($0.46) earnings per share. Equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on IOVA. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group began coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $17.00 target price on the stock. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

About Iovance Biotherapeutics

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.