Artisan Partners Limited Partnership Reduces Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Artisan Partners Limited Partnership reduced its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,542,168 shares of the biotechnology company's stock after selling 261,657 shares during the period. Artisan Partners Limited Partnership owned about 1.49% of Iovance Biotherapeutics worth $33,612,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth about $12,927,000. Raymond James Financial Inc. acquired a new stake in Iovance Biotherapeutics during the fourth quarter worth approximately $11,568,000. Principal Financial Group Inc. boosted its holdings in shares of Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock worth $37,872,000 after acquiring an additional 1,496,941 shares during the period. State Street Corp increased its stake in shares of Iovance Biotherapeutics by 4.6% during the third quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company's stock worth $123,967,000 after purchasing an additional 576,801 shares during the period. Finally, Barclays PLC increased its stake in shares of Iovance Biotherapeutics by 118.8% during the third quarter. Barclays PLC now owns 604,584 shares of the biotechnology company's stock worth $5,677,000 after purchasing an additional 328,284 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research analysts have weighed in on IOVA shares. Chardan Capital lowered their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group lowered their price target on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Piper Sandler cut their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a report on Friday, February 28th. Robert W. Baird lowered their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Finally, HC Wainwright reiterated a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Iovance Biotherapeutics has an average rating of "Moderate Buy" and an average target price of $20.25.

Iovance Biotherapeutics Stock Up 7.8 %

Iovance Biotherapeutics stock traded up $0.26 during trading hours on Wednesday, reaching $3.51. 2,728,516 shares of the company's stock were exchanged, compared to its average volume of 7,140,608. Iovance Biotherapeutics, Inc. has a twelve month low of $3.19 and a twelve month high of $14.23. The firm's 50 day simple moving average is $4.78 and its 200 day simple moving average is $7.44. The firm has a market capitalization of $1.15 billion, a PE ratio of -2.35 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.26). The firm had revenue of $73.69 million for the quarter, compared to analysts' expectations of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. Analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Iovance Biotherapeutics Profile

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.