Avoro Capital Advisors LLC Reduces Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Avoro Capital Advisors LLC lessened its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,500,000 shares of the biotechnology company's stock after selling 740,000 shares during the period. Avoro Capital Advisors LLC owned 1.15% of Iovance Biotherapeutics worth $25,900,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $12,927,000. Raymond James Financial Inc. bought a new position in Iovance Biotherapeutics during the fourth quarter worth $11,568,000. Principal Financial Group Inc. lifted its holdings in Iovance Biotherapeutics by 59.0% in the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock valued at $37,872,000 after buying an additional 1,496,941 shares during the period. Marshall Wace LLP bought a new stake in Iovance Biotherapeutics during the fourth quarter valued at $8,365,000. Finally, B Group Inc. bought a new stake in Iovance Biotherapeutics during the fourth quarter valued at $7,341,000. 77.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IOVA. HC Wainwright reiterated a "buy" rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. The Goldman Sachs Group lowered their price objective on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Barclays cut their target price on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Robert W. Baird decreased their price target on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Finally, Truist Financial cut their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $18.22.

Iovance Biotherapeutics Trading Up 4.5 %

Shares of Iovance Biotherapeutics stock traded up $0.15 on Friday, hitting $3.51. 14,756,313 shares of the company traded hands, compared to its average volume of 7,563,266. Iovance Biotherapeutics, Inc. has a 12-month low of $2.70 and a 12-month high of $14.23. The firm's 50-day simple moving average is $3.78 and its 200 day simple moving average is $6.62. The company has a market cap of $1.15 billion, a P/E ratio of -2.36 and a beta of 1.05.

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