Victory Capital Management Inc. Has $1.36 Million Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Victory Capital Management Inc. raised its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 399.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 144,280 shares of the biotechnology company’s stock after acquiring an additional 115,387 shares during the period. Victory Capital Management Inc. owned approximately 0.05% of Iovance Biotherapeutics worth $1,355,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IOVA shares. Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $10.00 in a report on Monday, July 29th. HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. UBS Group started coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. One equities 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

Insider Activity

In related news, Director Ryan D. Maynard sold 50,000 shares of the firm’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 transaction of $503,000.00. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.10% of the company’s stock.

Iovance Biotherapeutics Stock Performance

IOVA stock opened at $9.27 on Tuesday. The company has a market capitalization of $2.83 billion, a P/E ratio of -6.22 and a beta of 0.60. The company has a fifty day moving average price of $9.91 and a 200-day moving average price of $9.52. Iovance Biotherapeutics, Inc. has a 52-week low of $5.41 and a 52-week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly 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 return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. During the same quarter in the previous year, the company posted ($0.46) EPS. As a group, sell-side analysts forecast 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.