Frontier Capital Management Co. LLC cut its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Rating) by 26.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 317,389 shares of the biotechnology company's stock after selling 111,869 shares during the period. Frontier Capital Management Co. LLC owned approximately 0.20% of Iovance Biotherapeutics worth $3,504,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. boosted its holdings in Iovance Biotherapeutics by 72.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 84,020 shares of the biotechnology company's stock valued at $928,000 after purchasing an additional 35,303 shares during the period. Connective Portfolio Management LLC bought a new stake in Iovance Biotherapeutics in the 2nd quarter valued at $331,000. Carnegie Capital Asset Management LLC bought a new stake in Iovance Biotherapeutics in the 2nd quarter valued at $631,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Iovance Biotherapeutics by 25.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 271,204 shares of the biotechnology company's stock valued at $4,516,000 after purchasing an additional 55,271 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Iovance Biotherapeutics by 29.4% in the 1st quarter. Bank of America Corp DE now owns 1,023,206 shares of the biotechnology company's stock valued at $17,035,000 after purchasing an additional 232,322 shares during the period.
Get Iovance Biotherapeutics alerts:Iovance Biotherapeutics Stock Up 0.5 %
Shares of IOVA stock opened at $9.58 on Friday. Iovance Biotherapeutics, Inc. has a 12-month low of $6.18 and a 12-month high of $27.96. The company has a market capitalization of $1.51 billion, a P/E ratio of -4.01 and a beta of 0.50. The firm has a 50-day moving average price of $11.31 and a 200 day moving average price of $12.61.
Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the previous year, the business posted ($0.53) EPS. As a group, research analysts expect that Iovance Biotherapeutics, Inc. will post -2.53 earnings per share for the current year.Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. Robert W. Baird reduced their price target on shares of Iovance Biotherapeutics from $34.00 to $25.00 and set an "outperform" rating for the company in a report on Friday, August 5th. Chardan Capital reduced their price objective on shares of Iovance Biotherapeutics from $31.00 to $30.00 in a report on Friday, August 5th. Truist Financial reduced their price objective on shares of Iovance Biotherapeutics to $18.00 in a report on Tuesday, August 23rd. JMP Securities reaffirmed a "buy" rating and set a $25.00 price objective on shares of Iovance Biotherapeutics in a report on Monday, September 12th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $14.00 price objective on shares of Iovance Biotherapeutics in a report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.80.
Iovance Biotherapeutics Company 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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