Artisan Partners Limited Partnership Sells 261,657 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Artisan Partners Limited Partnership decreased its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 5.4% in the 4th quarter, HoldingsChannel reports. 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’s holdings in Iovance Biotherapeutics were worth $33,612,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in Iovance Biotherapeutics in the 4th quarter valued at $12,927,000. Raymond James Financial Inc. acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at about $11,568,000. Principal Financial Group Inc. grew 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 valued at $37,872,000 after buying an additional 1,496,941 shares during the last quarter. State Street Corp increased its position 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 acquiring an additional 576,801 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Iovance Biotherapeutics by 118.8% in the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock worth $5,677,000 after acquiring an additional 328,284 shares during the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Chardan Capital decreased their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Truist Financial decreased their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group lowered their price target on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Robert W. Baird cut their price objective 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 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Iovance Biotherapeutics has an average rating of “Moderate Buy” and an average target price of $20.25.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA opened at $3.56 on Friday. The company has a market capitalization of $1.17 billion, a P/E ratio of -2.39 and a beta of 0.93. The company’s 50-day moving average is $4.89 and its 200 day moving average is $7.56. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.33 and a fifty-two week high of $14.77.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share 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 firm had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. As a group, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

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.