US Bancorp DE Cuts Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

US Bancorp DE reduced its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 30.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,655 shares of the biotechnology company’s stock after selling 8,803 shares during the quarter. US Bancorp DE’s holdings in Iovance Biotherapeutics were worth $185,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. boosted its holdings in Iovance Biotherapeutics by 77.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 58,376 shares of the biotechnology company’s stock valued at $548,000 after purchasing an additional 25,500 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Iovance Biotherapeutics by 31.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock valued at $105,000 after purchasing an additional 2,624 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Iovance Biotherapeutics in the 3rd quarter valued at about $148,000. Vontobel Holding Ltd. grew its position in shares of Iovance Biotherapeutics by 32.5% during the third quarter. Vontobel Holding Ltd. now owns 18,940 shares of the biotechnology company’s stock worth $178,000 after buying an additional 4,647 shares in the last quarter. Finally, Creative Planning increased its stake in shares of Iovance Biotherapeutics by 2.6% during the third quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock worth $690,000 after buying an additional 1,896 shares during the period. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iovance Biotherapeutics

In related 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 directly owns 7,500 shares of the company’s stock, valued at $75,450. This trade represents a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. Finally, UBS Group started coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.33.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $8.59 on Friday. The firm’s fifty day simple moving average is $10.08 and its 200-day simple moving average is $9.77. Iovance Biotherapeutics, Inc. has a 12 month low of $4.33 and a 12 month high of $18.33. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -5.77 and a beta of 0.60.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results 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 business had revenue of $58.56 million during the quarter, compared to analysts’ expectations of $53.54 million. During the same period in the prior year, the company earned ($0.46) earnings per share. Analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.25 earnings per share for the current 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.