69,625 Shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Acquired by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 69,625 shares of the biotechnology company's stock, valued at approximately $515,000.

Several other large investors have also modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in Iovance Biotherapeutics in the 3rd quarter valued at $89,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Iovance Biotherapeutics by 31.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company's stock valued at $105,000 after purchasing an additional 2,624 shares during the period. Assetmark Inc. raised its holdings in shares of Iovance Biotherapeutics by 48.0% in the third quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company's stock valued at $121,000 after buying an additional 4,167 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of Iovance Biotherapeutics during the third quarter worth about $121,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Iovance Biotherapeutics during the second quarter worth about $107,000. 77.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $75,450. This represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

IOVA has been the subject of several analyst reports. Piper Sandler reduced their price objective on Iovance Biotherapeutics from $10.00 to $7.50 and set a "neutral" rating for the company in a research note on Friday. UBS Group initiated coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a "buy" rating and a $17.00 target price on the stock. Finally, HC Wainwright restated a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Iovance Biotherapeutics currently has an average rating of "Moderate Buy" and an average price target of $22.69.

Iovance Biotherapeutics Trading Down 5.8 %

Shares of NASDAQ IOVA opened at $5.85 on Friday. The company's 50-day moving average price is $7.41 and its 200 day moving average price is $9.01. Iovance Biotherapeutics, Inc. has a 52 week low of $5.57 and a 52 week high of $18.33. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -3.93 and a beta of 0.57.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $58.56 million during 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 period last year, the company posted ($0.46) EPS. As a group, research analysts expect that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current year.

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.

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