Assenagon Asset Management S.A. Takes Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Assenagon Asset Management S.A. bought a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,746,877 shares of the biotechnology company’s stock, valued at approximately $12,927,000. Assenagon Asset Management S.A. owned about 0.57% of Iovance Biotherapeutics as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. XML Financial LLC increased its position in Iovance Biotherapeutics by 7.4% during the third quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock worth $136,000 after purchasing an additional 1,000 shares during the last quarter. Saturna Capital Corp lifted its stake in Iovance Biotherapeutics by 7.0% during the 3rd quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company’s stock worth $193,000 after acquiring an additional 1,353 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Iovance Biotherapeutics by 11.6% in the third quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company’s stock valued at $160,000 after purchasing an additional 1,776 shares in the last quarter. Xponance Inc. lifted its holdings in Iovance Biotherapeutics by 13.0% during the 2nd quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock worth $131,000 after buying an additional 1,873 shares in the last quarter. Finally, Creative Planning grew its stake in shares of Iovance Biotherapeutics by 2.6% in the third quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock worth $690,000 after acquiring an additional 1,896 shares in the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Performance

IOVA opened at $5.91 on Friday. The company has a market cap of $1.80 billion, a P/E ratio of -3.97 and a beta of 0.57. Iovance Biotherapeutics, Inc. has a one year low of $5.62 and a one year high of $18.33. The business’s 50-day simple moving average is $7.95 and its 200-day simple moving average is $9.14.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating 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 business had revenue of $58.56 million during the quarter, compared to the consensus estimate of $53.54 million. During the same period in the prior year, the company earned ($0.46) earnings per share. As a group, analysts predict that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IOVA shares. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group initiated 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $23.00.

Insiders Place Their Bets

In related news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics 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 transaction, the director now directly owns 7,500 shares in the company, valued at $75,450. This trade represents a 86.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.10% of the stock is owned by insiders.

Iovance Biotherapeutics 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.