Victory Capital Management Inc. Buys 115,387 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Victory Capital Management Inc. grew its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 399.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 144,280 shares of the biotechnology company's stock after purchasing an additional 115,387 shares during the period. Victory Capital Management Inc. owned approximately 0.05% of Iovance Biotherapeutics worth $1,355,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC acquired a new position in Iovance Biotherapeutics during the second quarter worth about $32,000. Quest Partners LLC increased its position in Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 4,629 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in Iovance Biotherapeutics in the 2nd quarter valued at approximately $58,000. Daiwa Securities Group Inc. boosted its position in Iovance Biotherapeutics by 754.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company's stock valued at $71,000 after buying an additional 7,781 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new stake in shares of Iovance Biotherapeutics during the second quarter worth $82,000. Institutional investors and hedge funds own 77.03% of the company's stock.

Iovance Biotherapeutics Trading Down 1.6 %

IOVA stock traded down $0.15 during trading on Tuesday, hitting $9.12. The company had a trading volume of 5,411,836 shares, compared to its average volume of 7,329,726. The stock has a market cap of $2.78 billion, a PE ratio of -6.12 and a beta of 0.60. The business has a 50-day moving average of $9.90 and a 200-day moving average of $9.49. Iovance Biotherapeutics, Inc. has a one year low of $5.41 and a one year high of $18.33.

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, beating analysts' consensus estimates of ($0.31) by $0.03. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. During the same period in the prior year, the firm posted ($0.46) EPS. Research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current year.

Insiders Place Their Bets

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 7,500 shares in the company, valued at approximately $75,450. This represents a 86.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IOVA. Piper Sandler cut Iovance Biotherapeutics from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $19.00 to $10.00 in a research note on Monday, July 29th. StockNews.com upgraded Iovance Biotherapeutics to a "sell" rating in a research report on Monday, August 12th. UBS Group initiated coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $17.00 price target on the stock. Finally, 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Iovance Biotherapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target 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.