Eagle Asset Management Inc. Lowers Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Eagle Asset Management Inc. decreased its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 30.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,356,779 shares of the biotechnology company's stock after selling 580,930 shares during the quarter. Eagle Asset Management Inc. owned 0.48% of Iovance Biotherapeutics worth $12,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company's stock worth $369,245,000 after purchasing an additional 2,102,480 shares during the last quarter. American International Group Inc. boosted its holdings in Iovance Biotherapeutics by 2.6% in the first quarter. American International Group Inc. now owns 116,951 shares of the biotechnology company's stock worth $1,733,000 after purchasing an additional 2,941 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Iovance Biotherapeutics by 89.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 43,878 shares of the biotechnology company's stock worth $650,000 after purchasing an additional 20,778 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Iovance Biotherapeutics by 60.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company's stock worth $78,071,000 after purchasing an additional 1,991,262 shares during the last quarter. Finally, Bayesian Capital Management LP raised its position in Iovance Biotherapeutics by 328.5% in the first quarter. Bayesian Capital Management LP now owns 151,700 shares of the biotechnology company's stock worth $2,248,000 after acquiring an additional 116,300 shares during the period. Hedge funds and other institutional investors own 77.03% of the company's stock.

Insider Activity at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of the business's 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.10% of the stock is owned by company insiders.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA traded up $0.31 on Friday, reaching $8.55. The company's stock had a trading volume of 9,273,848 shares, compared to its average volume of 8,788,478. Iovance Biotherapeutics, Inc. has a 52-week low of $5.41 and a 52-week high of $18.33. The company has a market cap of $2.61 billion, a P/E ratio of -5.74 and a beta of 0.60. The company has a 50-day simple moving average of $9.91 and a 200 day simple moving average of $9.58.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.03. The business had revenue of $58.56 million during 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 quarter last year, the firm earned ($0.46) earnings per share. On average, equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. UBS Group assumed coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a "buy" rating and a $17.00 price target on the stock. StockNews.com upgraded shares of Iovance Biotherapeutics to a "sell" rating in a research report on Monday, August 12th. Finally, Piper Sandler downgraded shares of Iovance Biotherapeutics from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.33.

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.