Hennion & Walsh Asset Management Inc. boosted its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Rating) by 72.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,020 shares of the biotechnology company's stock after acquiring an additional 35,303 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.05% of Iovance Biotherapeutics worth $928,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of IOVA. Raymond James & Associates grew its stake in Iovance Biotherapeutics by 21.8% during the fourth quarter. Raymond James & Associates now owns 10,036 shares of the biotechnology company's stock valued at $192,000 after acquiring an additional 1,797 shares in the last quarter. Rhumbline Advisers grew its stake in Iovance Biotherapeutics by 3.5% in the 4th quarter. Rhumbline Advisers now owns 134,519 shares of the biotechnology company's stock worth $2,568,000 after buying an additional 4,603 shares in the last quarter. Bank of Montreal Can purchased a new position in Iovance Biotherapeutics in the 4th quarter worth approximately $2,510,000. Renaissance Technologies LLC purchased a new position in Iovance Biotherapeutics in the 4th quarter worth approximately $5,154,000. Finally, Geode Capital Management LLC grew its stake in Iovance Biotherapeutics by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,847,811 shares of the biotechnology company's stock worth $35,274,000 after buying an additional 61,799 shares in the last quarter.

Iovance Biotherapeutics Stock Up 0.5 %

NASDAQ:IOVA opened at $9.58 on Friday. The company has a fifty day moving average of $11.31 and a 200 day moving average of $12.61. Iovance Biotherapeutics, Inc. has a 52 week low of $6.18 and a 52 week high of $27.96. The firm has a market capitalization of $1.51 billion, a P/E ratio of -4.01 and a beta of 0.50.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company reissued an "equal weight" rating and issued a $14.00 price target on shares of Iovance Biotherapeutics in a research note on Thursday, August 18th. Robert W. Baird cut their price target on shares of Iovance Biotherapeutics from $34.00 to $25.00 and set an "outperform" rating for the company in a research note on Friday, August 5th. The Goldman Sachs Group lowered their price objective on shares of Iovance Biotherapeutics from $64.00 to $18.00 and set a "buy" rating for the company in a report on Friday, July 1st. Chardan Capital lowered their price objective on shares of Iovance Biotherapeutics from $31.00 to $30.00 in a report on Friday, August 5th. Finally, JMP Securities restated a "buy" rating and issued a $25.00 price objective on shares of Iovance Biotherapeutics in a report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.80.

Iovance Biotherapeutics Profile

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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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