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

Artisan Partners Limited Partnership lessened its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,542,168 shares of the biotechnology company’s stock after selling 261,657 shares during the period. Artisan Partners Limited Partnership owned approximately 1.49% of Iovance Biotherapeutics worth $33,612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in IOVA. AlphaQuest LLC lifted its holdings in shares of Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $36,000. Impact Partnership Wealth LLC bought a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $83,000. Kazazian Asset Management LLC bought a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth $84,000. Finally, Clear Creek Financial Management LLC bought a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $91,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $3.56 on Friday. The stock’s 50-day moving average is $4.89 and its 200 day moving average is $7.56. Iovance Biotherapeutics, Inc. has a one year low of $3.33 and a one year high of $14.77. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -2.39 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.26). The firm had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. On average, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IOVA shares. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Truist Financial dropped their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Chardan Capital reduced their price objective on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Piper Sandler lowered their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Finally, Robert W. Baird reduced their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics 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.