Guggenheim Capital LLC cut its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Rating) by 13.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 111,850 shares of the biotechnology company’s stock after selling 16,701 shares during the period. Guggenheim Capital LLC owned approximately 0.07% of Iovance Biotherapeutics worth $1,071,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of IOVA. Envestnet Asset Management Inc. lifted its position in Iovance Biotherapeutics by 17.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 14,017 shares of the biotechnology company’s stock worth $233,000 after acquiring an additional 2,099 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in Iovance Biotherapeutics by 71.8% during the 1st quarter. Rice Hall James & Associates LLC now owns 1,085,121 shares of the biotechnology company’s stock worth $18,067,000 after acquiring an additional 453,337 shares in the last quarter. Raymond James & Associates lifted its position in Iovance Biotherapeutics by 53.3% during the 1st quarter. Raymond James & Associates now owns 15,386 shares of the biotechnology company’s stock worth $256,000 after acquiring an additional 5,350 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Iovance Biotherapeutics by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,772,007 shares of the biotechnology company’s stock worth $29,504,000 after acquiring an additional 104,913 shares in the last quarter. Finally, AlphaCrest Capital Management LLC lifted its position in Iovance Biotherapeutics by 11.7% during the 1st quarter. AlphaCrest Capital Management LLC now owns 17,538 shares of the biotechnology company’s stock worth $292,000 after acquiring an additional 1,838 shares in the last quarter. 96.78% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
IOVA has been the topic of a number of recent analyst reports. Benchmark lowered Iovance Biotherapeutics to a “neutral” rating and cut their target price for the company from $20.00 to $6.00 in a research report on Friday, December 9th. Wells Fargo & Company cut their target price on Iovance Biotherapeutics from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday. Oppenheimer cut their target price on Iovance Biotherapeutics from $25.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 1st. Truist Financial upped their target price on Iovance Biotherapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, January 24th. Finally, JMP Securities cut their target price on Iovance Biotherapeutics from $25.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Monday, November 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Iovance Biotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $18.20.
Iovance Biotherapeutics Trading Down 5.6 %
Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The biotechnology company reported ($0.64) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.64). During the same period in the prior year, the company earned ($0.63) earnings per share. As a group, equities analysts predict that Iovance Biotherapeutics, Inc. will post -2.78 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Merrill A. Mcpeak acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, December 21st. The stock was purchased at an average cost of $6.15 per share, for a total transaction of $61,500.00. Following the purchase, the director now directly owns 70,150 shares in the company, valued at $431,422.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 7.60% of the stock is owned by company insiders.
About Iovance Biotherapeutics
Iovance Biotherapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of cell therapies as novel cancer immunotherapy products. Its lead product candidate, LN-144 for metastatic melanoma, is an autologous adoptive cell therapy utilizing tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients’ tumors.
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