Algert Global LLC Acquires 18,784 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Algert Global LLC lifted its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 53.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,070 shares of the biotechnology company’s stock after acquiring an additional 18,784 shares during the period. Algert Global LLC’s holdings in Iovance Biotherapeutics were worth $508,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Intech Investment Management LLC bought a new stake in shares of Iovance Biotherapeutics during the 3rd quarter valued at $920,000. Marshall Wace LLP bought a new stake in Iovance Biotherapeutics during the second quarter worth about $12,929,000. Magnetar Financial LLC acquired a new stake in Iovance Biotherapeutics during the second quarter worth about $661,000. Victory Capital Management Inc. increased its holdings in Iovance Biotherapeutics by 399.4% in the 3rd quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock valued at $1,355,000 after buying an additional 115,387 shares during the period. Finally, DNB Asset Management AS raised its position in shares of Iovance Biotherapeutics by 65.5% in the 2nd quarter. DNB Asset Management AS now owns 28,022 shares of the biotechnology company’s stock valued at $224,000 after buying an additional 11,091 shares in the last quarter. 77.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 7,500 shares of the company’s stock, valued at $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 12.10% of the company’s stock.

Analyst Ratings Changes

IOVA has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. Finally, UBS Group began coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Iovance Biotherapeutics Stock Down 0.9 %

Shares of Iovance Biotherapeutics stock opened at $9.32 on Friday. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -6.26 and a beta of 0.60. The company’s fifty day moving average is $9.82 and its 200 day moving average is $9.47. Iovance Biotherapeutics, Inc. has a twelve month low of $5.76 and a twelve month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 58.43% and a negative net margin of 451.25%. During the same period last year, the business posted ($0.46) earnings per share. As a group, equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.25 earnings per share for the current fiscal year.

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.