Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Sold by Creative Planning

Creative Planning lessened its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 7.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 71,593 shares of the biotechnology company’s stock after selling 5,470 shares during the quarter. Creative Planning’s holdings in Iovance Biotherapeutics were worth $574,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC lifted its stake in shares of Iovance Biotherapeutics by 15.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company’s stock valued at $157,000 after purchasing an additional 2,688 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Iovance Biotherapeutics by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 22,812,820 shares of the biotechnology company’s stock valued at $185,468,000 after acquiring an additional 669,350 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Iovance Biotherapeutics by 42.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 407,429 shares of the biotechnology company’s stock valued at $6,038,000 after acquiring an additional 121,395 shares during the period. Diversified Trust Co lifted its holdings in shares of Iovance Biotherapeutics by 14.8% in the 1st quarter. Diversified Trust Co now owns 15,511 shares of the biotechnology company’s stock worth $230,000 after acquiring an additional 1,999 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Iovance Biotherapeutics by 81.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 53,708 shares of the biotechnology company’s stock worth $796,000 after purchasing an additional 24,106 shares during the period. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on IOVA. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. JMP Securities lowered their price objective on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, June 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Iovance Biotherapeutics Stock Performance

NASDAQ:IOVA opened at $9.74 on Monday. Iovance Biotherapeutics, Inc. has a 1 year low of $3.21 and a 1 year high of $18.33. The stock has a market cap of $2.73 billion, a P/E ratio of -5.41 and a beta of 0.62. The stock has a 50-day simple moving average of $10.10 and a 200-day simple moving average of $10.11.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. The company had revenue of $31.11 million for the quarter, compared to analysts’ expectations of $24.59 million. During the same quarter last year, the company earned ($0.47) earnings per share. The firm’s revenue for the quarter was up 12969.7% on a year-over-year basis. On average, equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.26 EPS 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.