New York State Common Retirement Fund Sells 98,840 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

New York State Common Retirement Fund lessened its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,121,417 shares of the biotechnology company's stock after selling 98,840 shares during the period. New York State Common Retirement Fund owned about 0.37% of Iovance Biotherapeutics worth $8,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its holdings in Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company's stock valued at $123,967,000 after purchasing an additional 576,801 shares during the period. Principal Financial Group Inc. increased its holdings in Iovance Biotherapeutics by 59.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock valued at $37,872,000 after purchasing an additional 1,496,941 shares during the period. Assenagon Asset Management S.A. purchased a new position in Iovance Biotherapeutics during the 4th quarter valued at about $12,927,000. Rice Hall James & Associates LLC increased its holdings in Iovance Biotherapeutics by 2.6% during the 3rd quarter. Rice Hall James & Associates LLC now owns 1,679,157 shares of the biotechnology company's stock valued at $15,767,000 after purchasing an additional 43,132 shares during the period. Finally, Barclays PLC increased its holdings in Iovance Biotherapeutics by 118.8% during the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company's stock valued at $5,677,000 after purchasing an additional 328,284 shares during the period. Institutional investors own 77.03% of the company's stock.

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Iovance Biotherapeutics Stock Performance

Shares of IOVA traded down $1.02 during mid-day trading on Friday, reaching $4.24. The company had a trading volume of 49,879,996 shares, compared to its average volume of 9,669,391. The firm has a 50-day moving average price of $6.27 and a 200 day moving average price of $8.62. Iovance Biotherapeutics, Inc. has a 52 week low of $3.62 and a 52 week high of $18.24. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -2.85 and a beta of 0.53.

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, hitting analysts' consensus estimates of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $73.69 million for the quarter, compared to analysts' expectations of $72.17 million. As a group, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IOVA shares. Robert W. Baird reduced their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday. HC Wainwright reiterated a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday. Finally, Piper Sandler reduced their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.

Iovance Biotherapeutics Company 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.