State Street Lowers Iovance Biotherapeutics Stake to 3.8%
Ticker: IOVA · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 1425205
| Field | Detail |
|---|---|
| Company | Iovance Biotherapeutics, Inc. (IOVA) |
| Form Type | SC 13G/A |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, biotechnology, stake-change
TL;DR
**State Street cut its stake in Iovance to 3.8% as of year-end 2023.**
AI Summary
State Street Corp, a major financial institution, filed an amended SC 13G/A on January 25, 2024, indicating its ownership of common stock in Iovance Biotherapeutics Inc. As of December 31, 2023, State Street Corp reported beneficial ownership of 10,248,300 shares, representing 3.8% of Iovance Biotherapeutics' outstanding common stock. This filing is an update to their previous holdings and signals a slight decrease in their stake, which could be interpreted as a minor shift in institutional confidence for Iovance Biotherapeutics.
Why It Matters
This filing shows a significant institutional investor, State Street Corp, has adjusted its position in Iovance Biotherapeutics, which can influence market perception and other investors' decisions.
Risk Assessment
Risk Level: low — A change in institutional ownership, especially a minor decrease, is a common occurrence and doesn't inherently pose a high risk to the company or its stock.
Analyst Insight
Investors should monitor future institutional filings for Iovance Biotherapeutics to see if this trend of decreasing institutional ownership continues, which could signal broader sentiment shifts. This specific filing, however, represents a minor adjustment.
Key Numbers
- 10,248,300 — Shares Beneficially Owned (Represents the total common stock shares of Iovance Biotherapeutics Inc. held by State Street Corp.)
- 3.8% — Percentage of Class (Indicates State Street Corp's ownership stake in Iovance Biotherapeutics Inc. as of December 31, 2023.)
Key Players & Entities
- State Street Corp (company) — the filing entity and institutional investor
- IOVANCE BIOTHERAPEUTICS, INC. (company) — the subject company whose stock is being reported
- 10,248,300 (dollar_amount) — number of shares beneficially owned by State Street Corp
- 3.8% (dollar_amount) — percentage of class beneficially owned by State Street Corp
- December 31, 2023 (date) — date of the event requiring the filing
Forward-Looking Statements
- Other institutional investors may re-evaluate their positions in Iovance Biotherapeutics following State Street's adjustment. (IOVANCE BIOTHERAPEUTICS, INC.) — medium confidence, target: Q1 2024
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G, which is filed by institutional investors (like State Street Corp) to report beneficial ownership of 5% or more of a company's stock, or in this case, an update to a previously reported stake. The 'A' signifies it's an amendment to a prior filing.
Who filed this specific SC 13G/A?
This SC 13G/A was filed by State Street Corp, a financial institution based in Boston, MA, with a Central Index Key (CIK) of 0000093751.
Which company's stock is the subject of this filing?
The subject company is IOVANCE BIOTHERAPEUTICS, INC., a biological products company with a business address at 825 Industrial Road, 4th Floor, San Carlos, CA 94070.
What was State Street Corp's beneficial ownership percentage in Iovance Biotherapeutics Inc. as of the filing's event date?
As of December 31, 2023, State Street Corp beneficially owned 3.8% of the common stock of Iovance Biotherapeutics Inc.
What is the CUSIP number for Iovance Biotherapeutics Inc.'s common stock?
The CUSIP number for Iovance Biotherapeutics Inc.'s common stock is 462260100, as stated in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding IOVANCE BIOTHERAPEUTICS, INC. (IOVA).