Victory Capital Management Inc. Has $26.74 Million Position in Iovance Biotherapeutics Inc (IOVA)
Victory Capital Management Inc. increased its stake in shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 24.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,021,927 shares of the biotechnology company’s stock after acquiring an additional 591,270 shares during the period. Victory Capital Management Inc.’s holdings in Iovance Biotherapeutics were worth $26,744,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Iovance Biotherapeutics during the 4th quarter valued at $180,000. Xact Kapitalforvaltning AB lifted its stake in Iovance Biotherapeutics by 58.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 20,500 shares of the biotechnology company’s stock worth $181,000 after purchasing an additional 7,600 shares during the last quarter. Trexquant Investment LP lifted its stake in Iovance Biotherapeutics by 144.5% during the third quarter. Trexquant Investment LP now owns 24,732 shares of the biotechnology company’s stock worth $278,000 after purchasing an additional 14,618 shares during the last quarter. Bellevue Group AG bought a new position in shares of Iovance Biotherapeutics in the 3rd quarter valued at $281,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Iovance Biotherapeutics in the 3rd quarter valued at $282,000. Institutional investors and hedge funds own 79.16% of the company’s stock.
IOVA has been the subject of a number of recent research reports. 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 cut shares of Iovance Biotherapeutics from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 20th. B. Riley began coverage on shares of Iovance Biotherapeutics in a research note on Monday, December 31st. They set a “buy” rating and a $24.00 price target for the company. Oppenheimer set a $25.00 price target on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research note on Friday, January 11th. Finally, Zacks Investment Research lowered shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $24.29.
In other Iovance Biotherapeutics news, Director Merrill A. Mcpeak acquired 10,000 shares of the company’s stock in a transaction on Thursday, December 13th. The stock was acquired at an average cost of $9.63 per share, with a total value of $96,300.00. Following the purchase, the director now directly owns 456,583 shares of the company’s stock, valued at approximately $4,396,894.29. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Wayne P. Rothbaum acquired 921,053 shares of the company’s stock in a transaction on Tuesday, December 4th. The stock was acquired at an average cost of $10.31 per share, with a total value of $9,496,056.43. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,164,106 shares of company stock worth $22,150,897. 9.90% of the stock is owned by insiders.
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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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