Jennison Associates LLC Buys Shares of 66,568 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Jennison Associates LLC bought a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 66,568 shares of the biotechnology company's stock, valued at approximately $493,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IOVA. XML Financial LLC raised its holdings in Iovance Biotherapeutics by 7.4% in the third quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company's stock valued at $136,000 after acquiring an additional 1,000 shares in the last quarter. Saturna Capital Corp raised its stake in shares of Iovance Biotherapeutics by 7.0% in the 3rd quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company's stock valued at $193,000 after purchasing an additional 1,353 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Iovance Biotherapeutics by 11.6% during the third quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company's stock worth $160,000 after purchasing an additional 1,776 shares during the last quarter. Creative Planning grew its stake in Iovance Biotherapeutics by 2.6% in the third quarter. Creative Planning now owns 73,489 shares of the biotechnology company's stock worth $690,000 after purchasing an additional 1,896 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Iovance Biotherapeutics by 31.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company's stock valued at $105,000 after buying an additional 2,624 shares in the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Down 0.6 %

IOVA stock traded down $0.03 during mid-day trading on Tuesday, reaching $5.29. The company had a trading volume of 9,457,791 shares, compared to its average volume of 8,826,940. Iovance Biotherapeutics, Inc. has a one year low of $5.05 and a one year high of $18.33. The stock has a market capitalization of $1.61 billion, a P/E ratio of -3.55 and a beta of 0.53. The stock's 50-day simple moving average is $6.92 and its two-hundred day simple moving average is $8.86.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler decreased their target price on Iovance Biotherapeutics from $10.00 to $7.50 and set a "neutral" rating for the company in a research report on Friday, January 31st. HC Wainwright reaffirmed a "buy" rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. Finally, UBS Group started coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a "buy" rating and a $17.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.69.

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.