Charles Schwab Investment Management Inc. Has $17.96 Million Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Charles Schwab Investment Management Inc. reduced its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,913,144 shares of the biotechnology company's stock after selling 71,801 shares during the period. Charles Schwab Investment Management Inc. owned about 0.68% of Iovance Biotherapeutics worth $17,964,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Perceptive Advisors LLC boosted its stake in Iovance Biotherapeutics by 34.6% in the second quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company's stock valued at $207,984,000 after acquiring an additional 6,660,151 shares during the period. Long Focus Capital Management LLC boosted its position in Iovance Biotherapeutics by 195.1% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company's stock valued at $33,139,000 after purchasing an additional 2,731,688 shares during the period. Principal Financial Group Inc. boosted its position in Iovance Biotherapeutics by 59.0% during 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 purchasing an additional 1,496,941 shares during the period. Hood River Capital Management LLC grew its stake in Iovance Biotherapeutics by 4.1% during the 2nd quarter. Hood River Capital Management LLC now owns 2,732,427 shares of the biotechnology company's stock worth $21,914,000 after buying an additional 108,189 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its position in Iovance Biotherapeutics by 2.6% in the third quarter. Rice Hall James & Associates LLC now owns 1,679,157 shares of the biotechnology company's stock worth $15,767,000 after buying an additional 43,132 shares during the period. 77.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the completion of the sale, the director now owns 7,500 shares in the company, valued at approximately $75,450. This represents a 86.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

IOVA has been the subject of several recent research reports. StockNews.com upgraded shares of Iovance Biotherapeutics to a "sell" rating in a research report on Monday, August 12th. HC Wainwright reissued a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. Finally, UBS Group started coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a "buy" rating and a $17.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.33.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA traded up $0.56 during mid-day trading on Friday, reaching $9.03. 3,846,345 shares of the company traded hands, compared to its average volume of 8,493,239. Iovance Biotherapeutics, Inc. has a fifty-two week low of $6.00 and a fifty-two week high of $18.33. The firm has a market cap of $2.75 billion, a PE ratio of -6.06 and a beta of 0.55. The stock has a fifty day simple moving average of $9.76 and a 200-day simple moving average of $9.41.

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 (EPS) for the quarter, beating 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 return on equity of 58.43% and a negative net margin of 451.25%. During the same period last year, the firm earned ($0.46) EPS. As a group, analysts predict that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current fiscal 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.