SG Americas Securities LLC Purchases Shares of 69,625 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

SG Americas Securities LLC acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 69,625 shares of the biotechnology company's stock, valued at approximately $515,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Iovance Biotherapeutics by 4.6% in the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company's stock worth $123,967,000 after purchasing an additional 576,801 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Iovance Biotherapeutics by 59.0% in the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock valued at $37,872,000 after buying an additional 1,496,941 shares during the period. Assenagon Asset Management S.A. bought a new position in Iovance Biotherapeutics during the fourth quarter worth about $12,927,000. Rice Hall James & Associates LLC grew its position in shares of Iovance Biotherapeutics by 2.6% during the 3rd quarter. Rice Hall James & Associates LLC now owns 1,679,157 shares of the biotechnology company's stock worth $15,767,000 after buying an additional 43,132 shares during the period. Finally, Barclays PLC increased its stake in shares of Iovance Biotherapeutics by 118.8% in the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company's stock valued at $5,677,000 after acquiring an additional 328,284 shares during the last quarter. 77.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on IOVA. Piper Sandler reduced their price objective on shares of Iovance Biotherapeutics from $10.00 to $7.50 and set a "neutral" rating on the stock in a research note on Friday, January 31st. HC Wainwright reissued a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. Finally, UBS Group assumed coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a "buy" rating and a $17.00 price objective on the stock. 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 company's stock. According to data from MarketBeat, Iovance Biotherapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $22.69.

Iovance Biotherapeutics Stock Performance

NASDAQ IOVA traded up $0.29 on Wednesday, reaching $6.10. The company had a trading volume of 6,121,403 shares, compared to its average volume of 8,957,594. The company's fifty day moving average is $7.20 and its 200-day moving average is $8.96. Iovance Biotherapeutics, Inc. has a 1-year low of $5.52 and a 1-year high of $18.33. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -4.09 and a beta of 0.54.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.03. The company had revenue of $58.56 million during the quarter, compared to analysts' expectations 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 in the prior year, the firm earned ($0.46) earnings per share. On average, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current year.

Insider Activity

In other Iovance Biotherapeutics 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 sale, the director now directly owns 7,500 shares in the company, valued at approximately $75,450. The trade was a 86.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.10% of the stock is owned by corporate 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.