State of New Jersey Common Pension Fund D Acquires 61,960 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

State of New Jersey Common Pension Fund D grew its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVAGet Rating) by 42.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 209,187 shares of the biotechnology company’s stock after purchasing an additional 61,960 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Iovance Biotherapeutics were worth $2,004,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Lazard Asset Management LLC increased its position in shares of Iovance Biotherapeutics by 38.5% during the first quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company’s stock worth $55,000 after buying an additional 934 shares during the period. Baird Financial Group Inc. grew its position in shares of Iovance Biotherapeutics by 3.7% during the 1st quarter. Baird Financial Group Inc. now owns 27,545 shares of the biotechnology company’s stock worth $459,000 after buying an additional 995 shares during the period. Chartwell Investment Partners LLC grew its position in shares of Iovance Biotherapeutics by 3.6% during the 3rd quarter. Chartwell Investment Partners LLC now owns 46,672 shares of the biotechnology company’s stock worth $447,000 after buying an additional 1,635 shares during the period. Macquarie Group Ltd. grew its position in shares of Iovance Biotherapeutics by 2.7% during the 2nd quarter. Macquarie Group Ltd. now owns 66,393 shares of the biotechnology company’s stock worth $733,000 after buying an additional 1,721 shares during the period. Finally, AlphaCrest Capital Management LLC grew its position in shares of Iovance Biotherapeutics by 11.7% during the 1st quarter. AlphaCrest Capital Management LLC now owns 17,538 shares of the biotechnology company’s stock worth $292,000 after buying an additional 1,838 shares during the period. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IOVA. Oppenheimer reduced their price target on shares of Iovance Biotherapeutics from $27.00 to $25.00 in a research report on Friday, November 18th. Chardan Capital decreased their target price on shares of Iovance Biotherapeutics from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, November 18th. Piper Sandler lowered their price target on Iovance Biotherapeutics from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Sunday, November 20th. StockNews.com initiated coverage on shares of Iovance Biotherapeutics in a report on Wednesday, October 12th. They set a “sell” rating on the stock. Finally, HC Wainwright reduced their price objective on shares of Iovance Biotherapeutics from $43.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, November 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.82.

Insider Activity

In other news, Director Iain D. Dukes bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were acquired at an average price of $6.10 per share, with a total value of $61,000.00. Following the acquisition, the director now owns 22,000 shares of the company’s stock, valued at approximately $134,200. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Iovance Biotherapeutics news, Director Iain D. Dukes acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The shares were bought at an average price of $6.10 per share, for a total transaction of $61,000.00. Following the completion of the transaction, the director now owns 22,000 shares of the company’s stock, valued at approximately $134,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Wayne P. Rothbaum purchased 10,000,000 shares of the stock in a transaction on Friday, December 2nd. The stock was acquired at an average cost of $6.50 per share, for a total transaction of $65,000,000.00. Following the acquisition, the director now owns 18,067,333 shares in the company, valued at $117,437,664.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 10,031,000 shares of company stock worth $65,190,280. 7.60% of the stock is owned by company insiders.

Iovance Biotherapeutics Trading Down 1.8 %

Iovance Biotherapeutics stock opened at $6.16 on Friday. The firm has a 50 day simple moving average of $6.54 and a 200 day simple moving average of $9.31. Iovance Biotherapeutics, Inc. has a 1-year low of $5.42 and a 1-year high of $18.73. The firm has a market capitalization of $972.30 million, a price-to-earnings ratio of -2.49 and a beta of 0.38.

Iovance Biotherapeutics (NASDAQ:IOVAGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The biotechnology company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.01. On average, equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -2.5 EPS for the current year.

Iovance Biotherapeutics Profile

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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. It has six ongoing phase 2 clinical studies, including C-144-01, of its lead product candidate, lifileucel, for the treatment of metastatic melanoma; C-145-04, of its product candidate lifileucel for recurrent, metastatic, or persistent cervical cancer; and C-145-03, of its product candidate LN-145, for recurrent and/or metastatic head and neck squamous cell carcinoma.

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Institutional Ownership by Quarter for Iovance Biotherapeutics (NASDAQ:IOVA)

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