State Street Corp Grows Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

State Street Corp raised its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,201,978 shares of the biotechnology company's stock after purchasing an additional 576,801 shares during the quarter. State Street Corp owned approximately 4.33% of Iovance Biotherapeutics worth $123,967,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IOVA. Diversified Trust Co raised its holdings in Iovance Biotherapeutics by 9.5% in the second quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company's stock worth $136,000 after purchasing an additional 1,469 shares in the last quarter. ORG Partners LLC bought a new position in shares of Iovance Biotherapeutics in the 2nd quarter worth about $32,000. Brookstone Capital Management purchased a new position in Iovance Biotherapeutics during the 2nd quarter valued at about $112,000. Neo Ivy Capital Management bought a new position in shares of Iovance Biotherapeutics during the second quarter valued at approximately $1,705,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Iovance Biotherapeutics during the second quarter valued at approximately $174,000. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Stock Performance

Iovance Biotherapeutics stock traded down $0.13 during midday trading on Friday, hitting $7.83. 5,544,220 shares of the company's stock were exchanged, compared to its average volume of 7,189,711. The firm has a 50-day moving average of $9.63 and a two-hundred day moving average of $9.35. Iovance Biotherapeutics, Inc. has a 12 month low of $6.70 and a 12 month high of $18.33. The company has a market cap of $2.39 billion, a PE ratio of -5.25 and a beta of 0.55.

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

Insider Buying and Selling 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 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 of the company's stock, valued at approximately $75,450. The trade was a 86.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.10% of the company's stock.

Wall Street Analyst Weigh In

IOVA has been the subject of a number of recent research reports. UBS Group started coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a "buy" rating and a $17.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.33.

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.