Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stock Holdings Decreased by Eagle Asset Management Inc.

Eagle Asset Management Inc. lessened its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 30.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,356,779 shares of the biotechnology company’s stock after selling 580,930 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.48% of Iovance Biotherapeutics worth $12,740,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in shares of Iovance Biotherapeutics in the second quarter worth approximately $32,000. Quest Partners LLC lifted its position in Iovance Biotherapeutics by 1,237.7% in the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after buying an additional 4,629 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Iovance Biotherapeutics during the 2nd quarter valued at $58,000. Daiwa Securities Group Inc. grew its holdings in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 7,781 shares in the last quarter. Finally, Abacus Planning Group Inc. acquired a new position in shares of Iovance Biotherapeutics in the second quarter worth $82,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Insider Buying and Selling at Iovance Biotherapeutics

In related 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 transaction of $503,000.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at $75,450. This represents a 86.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 12.10% of the company’s stock.

Iovance Biotherapeutics Trading Up 3.8 %

Shares of Iovance Biotherapeutics stock opened at $8.55 on Friday. The firm has a fifty day simple moving average of $9.91 and a 200-day simple moving average of $9.58. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -5.74 and a beta of 0.60. Iovance Biotherapeutics, Inc. has a 1-year low of $5.41 and a 1-year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. The firm had revenue of $58.56 million during the quarter, compared to analyst estimates 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 business earned ($0.46) EPS. As a group, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.25 earnings per share for the current year.

Analysts Set New Price Targets

IOVA has been the topic of a number of recent research reports. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. Piper Sandler cut 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 note on Monday, July 29th. UBS Group started coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Iovance Biotherapeutics has an average rating of “Moderate Buy” and an average target price of $22.33.

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.