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30,000 Shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Acquired by Connective Portfolio Management LLC

Financial News Live ·  09/26 00:52

Connective Portfolio Management LLC acquired a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Rating) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 30,000 shares of the biotechnology company's stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors have also modified their holdings of IOVA. Raymond James & Associates boosted its position in shares of Iovance Biotherapeutics by 21.8% during the fourth quarter. Raymond James & Associates now owns 10,036 shares of the biotechnology company's stock worth $192,000 after buying an additional 1,797 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Iovance Biotherapeutics by 167.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 884,481 shares of the biotechnology company's stock worth $16,886,000 after buying an additional 553,559 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Iovance Biotherapeutics by 24.7% during the fourth quarter. Teacher Retirement System of Texas now owns 23,627 shares of the biotechnology company's stock worth $451,000 after buying an additional 4,681 shares during the period. Rhumbline Advisers boosted its position in shares of Iovance Biotherapeutics by 3.5% during the fourth 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 during the period. Finally, Bank of Montreal Can purchased a new position in Iovance Biotherapeutics in the fourth quarter valued at $2,510,000.

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Analyst Upgrades and Downgrades

IOVA has been the subject of a number of recent research reports. The Goldman Sachs Group decreased their target price on 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 cut their price target on Iovance Biotherapeutics from $31.00 to $30.00 in a research note on Friday, August 5th. JMP Securities restated a "buy" rating and issued a $25.00 price target on shares of Iovance Biotherapeutics in a research note on Monday, September 12th. Truist Financial cut their target price on Iovance Biotherapeutics to $18.00 in a research report on Tuesday, August 23rd. Finally, Robert W. Baird cut their target price on Iovance Biotherapeutics from $34.00 to $25.00 and set an "outperform" rating on the stock in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.80.

Iovance Biotherapeutics Price Performance

IOVA traded down $0.26 during trading on Friday, reaching $9.79. The company's stock had a trading volume of 2,120,801 shares, compared to its average volume of 2,075,707. Iovance Biotherapeutics, Inc. has a 52-week low of $6.18 and a 52-week high of $27.96. The company's fifty day moving average price is $11.57 and its 200-day moving average price is $12.72.

Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.63) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.03). During the same quarter in the prior year, the firm earned ($0.53) earnings per share. Research analysts anticipate that Iovance Biotherapeutics, Inc. will post -2.53 earnings per share for the current year.

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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