Intech Investment Management LLC Makes New $920,000 Investment in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Intech Investment Management LLC purchased a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 97,958 shares of the biotechnology company's stock, valued at approximately $920,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Grandfield & Dodd LLC bought a new position in Iovance Biotherapeutics in the 3rd quarter valued at $282,000. Curi RMB Capital LLC grew its holdings in shares of Iovance Biotherapeutics by 49.8% in the third quarter. Curi RMB Capital LLC now owns 108,637 shares of the biotechnology company's stock worth $1,020,000 after purchasing an additional 36,117 shares during the last quarter. Saturna Capital Corp grew its holdings in shares of Iovance Biotherapeutics by 7.0% in the third quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company's stock worth $193,000 after purchasing an additional 1,353 shares during the last quarter. Victory Capital Management Inc. increased its stake in Iovance Biotherapeutics by 399.4% in the 3rd quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company's stock worth $1,355,000 after buying an additional 115,387 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Iovance Biotherapeutics during the 3rd quarter valued at about $242,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. HC Wainwright restated a "buy" rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. UBS Group began coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $17.00 price objective on the stock. Finally, StockNews.com raised Iovance Biotherapeutics to a "sell" rating in a research report on Monday, August 12th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.33.

Insider Activity at Iovance Biotherapeutics

In other Iovance Biotherapeutics 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 sale, the director now directly owns 7,500 shares of the company's stock, valued at approximately $75,450. This trade represents a 86.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.10% of the stock is owned by insiders.

Iovance Biotherapeutics Trading Down 0.9 %

Shares of IOVA stock traded down $0.08 during trading hours on Friday, reaching $9.32. 2,864,417 shares of the company's stock were exchanged, compared to its average volume of 7,303,426. Iovance Biotherapeutics, Inc. has a fifty-two week low of $5.76 and a fifty-two week high of $18.33. The stock's 50 day moving average is $9.84 and its 200-day moving average is $9.48. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -6.31 and a beta of 0.60.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly 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. 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 quarter last year, the company earned ($0.46) earnings per share. Equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current year.

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.