Grandfield & Dodd LLC Invests $282,000 in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Grandfield & Dodd LLC bought a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the third quarter, Holdings Channel reports. The fund bought 30,070 shares of the biotechnology company’s stock, valued at approximately $282,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in shares of Iovance Biotherapeutics by 33.9% in the 1st quarter. Sei Investments Co. now owns 333,148 shares of the biotechnology company’s stock worth $4,937,000 after purchasing an additional 84,382 shares during the last quarter. US Bancorp DE grew its position in Iovance Biotherapeutics by 113.8% in the first quarter. US Bancorp DE now owns 31,557 shares of the biotechnology company’s stock worth $468,000 after buying an additional 16,800 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock valued at $369,245,000 after buying an additional 2,102,480 shares in the last quarter. American International Group Inc. lifted its position in shares of Iovance Biotherapeutics by 2.6% during the 1st quarter. American International Group Inc. now owns 116,951 shares of the biotechnology company’s stock valued at $1,733,000 after acquiring an additional 2,941 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Iovance Biotherapeutics by 89.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 43,878 shares of the biotechnology company’s stock worth $650,000 after acquiring an additional 20,778 shares in the last quarter. 77.03% of the stock is owned by institutional investors.

Iovance Biotherapeutics Trading Down 2.8 %

Shares of NASDAQ:IOVA opened at $8.19 on Wednesday. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -5.50 and a beta of 0.60. Iovance Biotherapeutics, Inc. has a 1 year low of $5.14 and a 1 year high of $18.33. The business has a fifty day simple moving average of $10.00 and a 200 day simple moving average of $9.64.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS 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 the consensus estimate of $53.54 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. During the same period in the previous year, the firm posted ($0.46) earnings per share. On average, sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current year.

Insider Buying and Selling

In other news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the completion of the sale, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $75,450. This represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. UBS Group started coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $17.00 target price for the company. Finally, Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

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.