SG Americas Securities LLC Takes $2.59 Million Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Posted by Defense World Staff on Sep 21st, 2023

SG Americas Securities LLC acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 367,467 shares of the biotechnology company’s stock, valued at approximately $2,587,000. SG Americas Securities LLC owned about 0.16% of Iovance Biotherapeutics at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Profund Advisors LLC acquired a new stake in Iovance Biotherapeutics during the 1st quarter valued at $1,234,000. Artisan Partners Limited Partnership lifted its holdings in Iovance Biotherapeutics by 30.4% during the 1st quarter. Artisan Partners Limited Partnership now owns 3,568,706 shares of the biotechnology company’s stock valued at $21,805,000 after purchasing an additional 832,974 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Iovance Biotherapeutics by 117.6% during the 4th quarter. GSA Capital Partners LLP now owns 175,793 shares of the biotechnology company’s stock valued at $1,123,000 after purchasing an additional 95,017 shares during the last quarter. Endurant Capital Management LP acquired a new stake in Iovance Biotherapeutics during the 4th quarter valued at $451,000. Finally, Rhenman & Partners Asset Management AB lifted its holdings in Iovance Biotherapeutics by 69.5% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 864,378 shares of the biotechnology company’s stock valued at $5,523,000 after purchasing an additional 354,378 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

Insider Buying and Selling

In other Iovance Biotherapeutics news, Director Merrill A. Mcpeak bought 10,000 shares of the stock in a transaction on Monday, September 18th. The stock was acquired at an average cost of $5.56 per share, for a total transaction of $55,600.00. Following the completion of the acquisition, the director now owns 248,633 shares in the company, valued at approximately $1,382,399.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Wayne P. Rothbaum acquired 5,000,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was purchased at an average price of $5.30 per share, for a total transaction of $26,500,000.00. Following the completion of the acquisition, the director now directly owns 23,067,333 shares in the company, valued at approximately $122,256,864.90. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Merrill A. Mcpeak acquired 10,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were purchased at an average price of $5.56 per share, with a total value of $55,600.00. Following the acquisition, the director now owns 248,633 shares of the company’s stock, valued at $1,382,399.48. The disclosure for this purchase can be found here. 10.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $17.00 price target on shares of Iovance Biotherapeutics in a report on Friday, September 15th. Mizuho reiterated a “buy” rating and set a $30.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, September 15th. Stifel Nicolaus lowered their price objective on Iovance Biotherapeutics from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, September 13th. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research report on Friday, September 8th. Finally, Robert W. Baird lowered their price objective on Iovance Biotherapeutics from $23.00 to $20.00 in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.54.

Read Our Latest Stock Analysis on IOVA

Iovance Biotherapeutics Trading Down 3.3 %

Shares of IOVA stock opened at $5.25 on Thursday. The business’s 50-day moving average price is $6.64 and its 200-day moving average price is $6.89. Iovance Biotherapeutics, Inc. has a 12 month low of $4.41 and a 12 month high of $10.77. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -2.34 and a beta of 0.10.

Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.34. The company had revenue of $0.24 million during the quarter, compared to analyst estimates of $3.91 million. During the same period in the prior year, the firm earned ($0.63) earnings per share. On average, sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.87 earnings per share for the current fiscal year.

Iovance Biotherapeutics Company Profile

(Free Report)

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.