Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stock Position Lowered by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC cut its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,594,532 shares of the biotechnology company's stock after selling 84,625 shares during the period. Rice Hall James & Associates LLC owned approximately 0.52% of Iovance Biotherapeutics worth $11,800,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $515,000. Jennison Associates LLC bought a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $493,000. Barclays PLC boosted its holdings in shares of Iovance Biotherapeutics by 118.8% in the third quarter. Barclays PLC now owns 604,584 shares of the biotechnology company's stock valued at $5,677,000 after acquiring an additional 328,284 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of 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 acquiring an additional 1,496,941 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Iovance Biotherapeutics in the third quarter valued at approximately $920,000. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA traded up $0.17 during mid-day trading on Friday, hitting $5.78. The stock had a trading volume of 10,890,669 shares, compared to its average volume of 8,530,474. The company has a market cap of $1.76 billion, a PE ratio of -3.88 and a beta of 0.53. Iovance Biotherapeutics, Inc. has a 12-month low of $5.05 and a 12-month high of $18.33. The company's 50 day moving average is $6.44 and its 200-day moving average is $8.70.

Analysts Set New Price Targets

IOVA has been the subject of several recent research reports. UBS Group initiated 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. Piper Sandler cut their target price on shares of Iovance Biotherapeutics from $10.00 to $7.50 and set a "neutral" rating for the company in a research note on Friday, January 31st. Finally, HC Wainwright reissued a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $21.07.

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.