Skandinaviska Enskilda Banken AB publ decreased its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Free Report) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,618 shares of the biotechnology company’s stock after selling 4,756 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Iovance Biotherapeutics were worth $590,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. MHR Fund Management LLC purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at $76,661,000. State Street Corp lifted its stake in shares of Iovance Biotherapeutics by 71.9% during the 2nd quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company’s stock valued at $129,949,000 after buying an additional 4,925,025 shares in the last quarter. Morgan Stanley lifted its stake in shares of Iovance Biotherapeutics by 374.2% during the 4th quarter. Morgan Stanley now owns 4,969,869 shares of the biotechnology company’s stock valued at $31,757,000 after buying an additional 3,921,869 shares in the last quarter. Norges Bank purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at $19,009,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Iovance Biotherapeutics by 295.9% during the 4th quarter. Renaissance Technologies LLC now owns 3,200,900 shares of the biotechnology company’s stock valued at $20,454,000 after buying an additional 2,392,300 shares in the last quarter. 89.80% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on IOVA. Wells Fargo & Company raised shares of Iovance Biotherapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $11.00 to $17.00 in a report on Tuesday, May 30th. Stifel Nicolaus increased their price objective on shares of Iovance Biotherapeutics from $21.00 to $24.00 in a report on Tuesday, May 30th. Robert W. Baird decreased their target price on Iovance Biotherapeutics from $23.00 to $20.00 in a research report on Wednesday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of Iovance Biotherapeutics in a research report on Wednesday, August 9th. Finally, StockNews.com initiated coverage on Iovance Biotherapeutics in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Iovance Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $18.55.
Iovance Biotherapeutics Price Performance
Shares of NASDAQ:IOVA opened at $6.15 on Monday. Iovance Biotherapeutics, Inc. has a 1 year low of $5.28 and a 1 year high of $11.88. The business has a 50 day simple moving average of $7.30 and a two-hundred day simple moving average of $7.08. The firm has a market capitalization of $1.52 billion, a PE ratio of -2.75 and a beta of 0.10.
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.34. The firm had revenue of $0.24 million for the quarter, compared to the consensus estimate of $3.91 million. During the same period in the previous year, the company posted ($0.63) EPS. Equities research analysts expect that Iovance Biotherapeutics, Inc. will post -1.87 EPS for the current fiscal year.
About Iovance Biotherapeutics
Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.
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