Victory Capital Management Inc. Buys 115,387 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Victory Capital Management Inc. increased its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 399.4% during the third quarter, Holdings Channel reports. The institutional investor owned 144,280 shares of the biotechnology company’s stock after purchasing an additional 115,387 shares during the period. Victory Capital Management Inc.’s holdings in Iovance Biotherapeutics were worth $1,355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in shares of Iovance Biotherapeutics during the third quarter worth approximately $242,000. Los Angeles Capital Management LLC grew its holdings in shares of Iovance Biotherapeutics by 156.0% during the third quarter. Los Angeles Capital Management LLC now owns 61,759 shares of the biotechnology company’s stock valued at $580,000 after buying an additional 37,635 shares during the last quarter. XML Financial LLC increased its position in shares of Iovance Biotherapeutics by 7.4% during the third quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 1,000 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Iovance Biotherapeutics by 48.0% in the 3rd quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company’s stock worth $121,000 after acquiring an additional 4,167 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after acquiring an additional 1,496,941 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Up 8.4 %

Iovance Biotherapeutics stock opened at $9.27 on Tuesday. The firm has a 50 day moving average price of $9.91 and a 200-day moving average price of $9.52. Iovance Biotherapeutics, Inc. has a twelve month low of $5.41 and a twelve month high of $18.33. The company has a market capitalization of $2.83 billion, a P/E ratio of -6.22 and a beta of 0.60.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results 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. 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 period last year, the business posted ($0.46) earnings per share. Equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IOVA has been the subject of a number of recent research reports. 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. Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $10.00 in a research report on Monday, July 29th. UBS Group assumed coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $17.00 target price for the company. Finally, StockNews.com upgraded shares of 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 given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and an average price target of $22.33.

Insiders Place Their Bets

In other news, Director Ryan D. Maynard sold 50,000 shares of the firm’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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.10% of the company’s stock.

Iovance Biotherapeutics 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.