Assetmark Inc. Acquires 4,167 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Assetmark Inc. raised its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 48.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,853 shares of the biotechnology company’s stock after purchasing an additional 4,167 shares during the period. Assetmark Inc.’s holdings in Iovance Biotherapeutics were worth $121,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Financial Group Inc. raised its holdings 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. Beacon Financial Advisory LLC lifted its position in Iovance Biotherapeutics by 42.7% during the third quarter. Beacon Financial Advisory LLC now owns 21,120 shares of the biotechnology company’s stock worth $198,000 after purchasing an additional 6,320 shares during the period. Farther Finance Advisors LLC grew its stake in Iovance Biotherapeutics by 142.3% during the third quarter. Farther Finance Advisors LLC now owns 15,389 shares of the biotechnology company’s stock worth $145,000 after buying an additional 9,037 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in Iovance Biotherapeutics by 59.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 21,740 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 8,090 shares during the period. Finally, Rice Hall James & Associates LLC raised its position in shares of Iovance Biotherapeutics by 2.6% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,679,157 shares of the biotechnology company’s stock valued at $15,767,000 after buying an additional 43,132 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA opened at $8.18 on Monday. Iovance Biotherapeutics, Inc. has a one year low of $4.33 and a one year high of $18.33. The company has a market cap of $2.49 billion, a PE ratio of -5.49 and a beta of 0.60. The firm’s 50 day simple moving average is $10.04 and its 200 day simple moving average is $9.71.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data 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 company had revenue of $58.56 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted ($0.46) earnings per share. Equities research analysts expect that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. 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 price objective on the stock. Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. Finally, StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.