Bank of America Corp DE Acquires 114,459 Shares of Iovance Biotherapeutics Inc (IOVA)

Bank of America Corp DE raised its holdings in Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 242.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 161,657 shares of the biotechnology company’s stock after purchasing an additional 114,459 shares during the quarter. Bank of America Corp DE owned about 0.17% of Iovance Biotherapeutics worth $2,070,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fred Alger Management Inc. acquired a new position in Iovance Biotherapeutics in the second quarter valued at $102,000. Trexquant Investment LP acquired a new position in shares of Iovance Biotherapeutics during the second quarter worth about $129,000. Amalgamated Bank acquired a new position in shares of Iovance Biotherapeutics during the second quarter worth about $161,000. Xact Kapitalforvaltning AB acquired a new position in shares of Iovance Biotherapeutics during the first quarter worth about $174,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Iovance Biotherapeutics by 61.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,918 shares of the biotechnology company’s stock worth $178,000 after acquiring an additional 5,318 shares during the period. Institutional investors own 87.51% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Cowen reiterated a “buy” rating on shares of Iovance Biotherapeutics in a research note on Tuesday. BidaskClub lowered shares of Iovance Biotherapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. HC Wainwright set a $22.00 price target on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research upgraded shares of Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Wednesday, October 17th. Finally, ValuEngine lowered shares of Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $23.75.

Shares of Iovance Biotherapeutics stock opened at $8.97 on Friday. Iovance Biotherapeutics Inc has a 52-week low of $7.40 and a 52-week high of $19.90. The stock has a market cap of $841.21 million, a PE ratio of -6.36 and a beta of 3.03.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.03). Research analysts predict that Iovance Biotherapeutics Inc will post -1.27 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was first published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/11/10/bank-of-america-corp-de-acquires-114459-shares-of-iovance-biotherapeutics-inc-iova.html.

Iovance Biotherapeutics Company Profile

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.

See Also: How to calculate compound interest

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

Receive News & Ratings for Iovance Biotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iovance Biotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply