BlackRock Inc. Reduces Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

BlackRock Inc. reduced its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 0.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,974,815 shares of the biotechnology company’s stock after selling 27,773 shares during the period. BlackRock Inc. owned approximately 0.06% of Iovance Biotherapeutics worth $284,140,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of IOVA. Dimensional Fund Advisors LP boosted its stake in shares of Iovance Biotherapeutics by 41.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 138,725 shares of the biotechnology company’s stock worth $6,437,000 after purchasing an additional 40,816 shares during the period. Claraphi Advisory Network LLC purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter worth about $793,000. King Luther Capital Management Corp purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter worth about $2,646,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Iovance Biotherapeutics by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 649,257 shares of the biotechnology company’s stock worth $30,126,000 after purchasing an additional 10,387 shares during the period. Finally, Himension Fund purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter worth about $641,000.

NASDAQ:IOVA opened at $23.14 on Friday. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -12.51 and a beta of 0.82. The firm has a 50-day simple moving average of $26.12. Iovance Biotherapeutics, Inc. has a one year low of $15.88 and a one year high of $54.21.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, May 6th. The biotechnology company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.03). As a group, analysts expect that Iovance Biotherapeutics, Inc. will post -2.07 earnings per share for the current fiscal year.

IOVA has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Iovance Biotherapeutics from a “hold” rating to a “strong sell” rating and set a $27.00 price target for the company. in a research note on Monday, May 3rd. Truist Securities initiated coverage on shares of Iovance Biotherapeutics in a research report on Monday, May 3rd. They issued a “buy” rating and a $50.00 price objective for the company. Piper Sandler reissued a “neutral” rating and issued a $18.00 price objective (down from $35.00) on shares of Iovance Biotherapeutics in a research report on Wednesday, May 26th. Robert W. Baird lowered their price objective on shares of Iovance Biotherapeutics from $55.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, May 20th. Finally, Chardan Capital lowered their price objective on shares of Iovance Biotherapeutics from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, May 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $39.92.

Iovance Biotherapeutics Profile

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. It has six ongoing phase 2 clinical studies, including C-144-01, of its lead product candidate, lifileucel, for the treatment of metastatic melanoma; C-145-04, of its product candidate lifileucel for recurrent, metastatic, or persistent cervical cancer; and C-145-03, of its product candidate LN-145, for recurrent and/or metastatic head and neck squamous cell carcinoma.

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Institutional Ownership by Quarter for Iovance Biotherapeutics (NASDAQ:IOVA)

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