GSA Capital Partners LLP Buys Shares of 25,824 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

GSA Capital Partners LLP purchased a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 25,824 shares of the biotechnology company’s stock, valued at approximately $242,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Perceptive Advisors LLC boosted its stake in Iovance Biotherapeutics by 34.6% in the 2nd quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock worth $207,984,000 after purchasing an additional 6,660,151 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Iovance Biotherapeutics by 9.2% during the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock worth $369,245,000 after buying an additional 2,102,480 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Iovance Biotherapeutics by 60.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock valued at $78,071,000 after buying an additional 1,991,262 shares during the last quarter. Long Focus Capital Management LLC increased its position in shares of Iovance Biotherapeutics by 195.1% in the 2nd quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock valued at $33,139,000 after acquiring an additional 2,731,688 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after acquiring an additional 1,496,941 shares during the period. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $8.55 on Friday. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -5.74 and a beta of 0.60. The business has a 50-day moving average of $9.91 and a 200 day moving average of $9.58. Iovance Biotherapeutics, Inc. has a 12 month low of $5.41 and a 12 month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $58.56 million during the quarter, compared to analysts’ expectations of $53.54 million. During the same period in the previous year, the firm posted ($0.46) EPS. Equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.25 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 company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the completion of the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at $75,450. This represents a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IOVA has been the topic of several research reports. UBS Group started coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target on the stock. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. Finally, Piper Sandler cut shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $10.00 in a research note on Monday, July 29th. One investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.