Curi RMB Capital LLC Purchases 36,117 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Curi RMB Capital LLC raised its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 49.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,637 shares of the biotechnology company’s stock after buying an additional 36,117 shares during the period. Curi RMB Capital LLC’s holdings in Iovance Biotherapeutics were worth $1,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in Iovance Biotherapeutics in the 2nd quarter valued at about $32,000. Quest Partners LLC lifted its position in shares of Iovance Biotherapeutics by 1,237.7% in the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 4,629 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in shares of Iovance Biotherapeutics in the 2nd quarter worth approximately $58,000. Daiwa Securities Group Inc. lifted its position in shares of Iovance Biotherapeutics by 754.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 7,781 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Iovance Biotherapeutics in the 3rd quarter worth approximately $89,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA opened at $8.18 on Friday. The company’s fifty day moving average price is $10.04 and its 200 day moving average price is $9.74. Iovance Biotherapeutics, Inc. has a 1 year low of $4.33 and a 1 year high of $18.33. The company has a market capitalization of $2.49 billion, a PE ratio of -5.49 and a beta of 0.60.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. The firm had revenue of $58.56 million for 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 prior year, the firm posted ($0.46) earnings per share. On average, equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IOVA. UBS Group began coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target for the company. HC Wainwright reiterated 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 note on Monday, August 12th. Finally, Piper Sandler lowered shares of 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Insider Buying and Selling at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total transaction of $503,000.00. Following the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at $75,450. This trade represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.10% of the company’s stock.

About Iovance Biotherapeutics

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.