1,746,877 Shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. acquired a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,746,877 shares of the biotechnology company's stock, valued at approximately $12,927,000. Assenagon Asset Management S.A. owned approximately 0.57% of Iovance Biotherapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC bought a new position in Iovance Biotherapeutics in the second quarter valued at approximately $58,000. ORG Wealth Partners LLC bought a new stake in Iovance Biotherapeutics in the 3rd quarter valued at $89,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Iovance Biotherapeutics by 31.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company's stock worth $105,000 after purchasing an additional 2,624 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in Iovance Biotherapeutics during the 2nd quarter worth about $107,000. Finally, Choreo LLC acquired a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at about $116,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Performance

Shares of IOVA traded up $0.15 during mid-day trading on Friday, reaching $5.91. The company's stock had a trading volume of 6,552,563 shares, compared to its average volume of 6,074,268. Iovance Biotherapeutics, Inc. has a 1-year low of $5.62 and a 1-year high of $18.33. The business has a 50-day simple moving average of $7.95 and a two-hundred day simple moving average of $9.14.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. The firm had revenue of $58.56 million for the quarter, compared to the consensus estimate 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 in the previous year, the company earned ($0.46) earnings per share. On average, equities research analysts expect that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current year.

Insiders Place Their Bets

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total value of $503,000.00. Following the completion of the sale, the director now owns 7,500 shares in the company, valued at $75,450. The trade was a 86.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IOVA shares. UBS Group initiated coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $17.00 price objective for the company. HC Wainwright reiterated a "buy" rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Iovance Biotherapeutics currently has an average rating of "Moderate Buy" and an average price target of $23.00.

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.