Teachers Advisors LLC lifted its stake in shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 27.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 727,043 shares of the biotechnology company’s stock after purchasing an additional 157,427 shares during the quarter. Teachers Advisors LLC’s holdings in Iovance Biotherapeutics were worth $8,179,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Trexquant Investment LP increased its holdings in Iovance Biotherapeutics by 144.5% in the third quarter. Trexquant Investment LP now owns 24,732 shares of the biotechnology company’s stock valued at $278,000 after purchasing an additional 14,618 shares during the period. Bellevue Group AG acquired a new stake in Iovance Biotherapeutics in the third quarter valued at $281,000. Dynamic Technology Lab Private Ltd acquired a new stake in Iovance Biotherapeutics in the third quarter valued at $282,000. Seven Eight Capital LP acquired a new stake in Iovance Biotherapeutics in the third quarter valued at $311,000. Finally, Dupont Capital Management Corp acquired a new stake in Iovance Biotherapeutics in the third quarter valued at $314,000. Institutional investors own 74.30% of the company’s stock.
NASDAQ IOVA traded up $0.04 on Monday, reaching $9.77. The company had a trading volume of 45,100 shares, compared to its average volume of 845,286. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -6.93 and a beta of 1.92. Iovance Biotherapeutics Inc has a fifty-two week low of $7.26 and a fifty-two week high of $19.90.
IOVA has been the subject of a number of recent research reports. Oppenheimer set a $25.00 price objective on Iovance Biotherapeutics and gave the company a “buy” rating in a report on Friday, January 11th. B. Riley initiated coverage on Iovance Biotherapeutics in a report on Monday, December 31st. They issued a “buy” rating and a $24.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $26.00 price objective on shares of Iovance Biotherapeutics in a report on Monday, November 12th. BidaskClub downgraded Iovance Biotherapeutics from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Finally, ValuEngine downgraded Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Iovance Biotherapeutics currently has an average rating of “Buy” and an average target price of $24.29.
In other news, Director Wayne P. Rothbaum purchased 921,053 shares of the business’s stock in a transaction on Tuesday, December 4th. The shares were acquired at an average price of $10.31 per share, with a total value of $9,496,056.43. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Iain D. Dukes purchased 12,000 shares of the business’s stock in a transaction on Tuesday, December 18th. The shares were purchased at an average cost of $8.65 per share, for a total transaction of $103,800.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $103,800. The disclosure for this purchase can be found here. Insiders have acquired 2,164,106 shares of company stock worth $22,150,897 in the last ninety days. Insiders own 9.90% of the company’s stock.
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About Iovance Biotherapeutics
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 LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.
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