Macquarie Group Ltd. Decreases Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Macquarie Group Ltd. decreased its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Rating) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,856 shares of the biotechnology company’s stock after selling 2,537 shares during the period. Macquarie Group Ltd.’s holdings in Iovance Biotherapeutics were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IOVA. Envestnet Asset Management Inc. lifted its position in Iovance Biotherapeutics by 17.6% during the first quarter. Envestnet Asset Management Inc. now owns 14,017 shares of the biotechnology company’s stock valued at $233,000 after acquiring an additional 2,099 shares during the last quarter. Rice Hall James & Associates LLC raised its holdings in shares of Iovance Biotherapeutics by 71.8% in the first quarter. Rice Hall James & Associates LLC now owns 1,085,121 shares of the biotechnology company’s stock worth $18,067,000 after buying an additional 453,337 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Iovance Biotherapeutics by 53.3% in the first quarter. Raymond James & Associates now owns 15,386 shares of the biotechnology company’s stock worth $256,000 after buying an additional 5,350 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Iovance Biotherapeutics by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 1,772,007 shares of the biotechnology company’s stock worth $29,504,000 after buying an additional 104,913 shares during the last quarter. Finally, AlphaCrest Capital Management LLC raised its holdings in shares of Iovance Biotherapeutics by 11.7% in the first quarter. AlphaCrest Capital Management LLC now owns 17,538 shares of the biotechnology company’s stock worth $292,000 after buying an additional 1,838 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Insider Activity at Iovance Biotherapeutics

In other news, Director Merrill A. Mcpeak purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The shares were bought at an average price of $6.15 per share, for a total transaction of $61,500.00. Following the completion of the transaction, the director now owns 70,150 shares in the company, valued at $431,422.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on IOVA. The Goldman Sachs Group cut shares of Iovance Biotherapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $6.00 in a report on Thursday, December 8th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, March 1st. Piper Sandler raised shares of Iovance Biotherapeutics from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $11.00 to $14.00 in a report on Friday, January 27th. Benchmark lowered shares of Iovance Biotherapeutics to a “neutral” rating and cut their price objective for the stock from $20.00 to $6.00 in a research note on Friday, December 9th. Finally, Oppenheimer cut their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.20.

Iovance Biotherapeutics Stock Performance

IOVA stock opened at $6.21 on Monday. The firm has a market cap of $1.39 billion, a PE ratio of -2.50 and a beta of 0.24. The firm’s fifty day moving average is $7.07 and its 200 day moving average is $8.06. Iovance Biotherapeutics, Inc. has a one year low of $5.42 and a one year high of $18.73.

Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The biotechnology company reported ($0.64) EPS for the quarter, meeting the consensus estimate of ($0.64). During the same quarter last year, the business posted ($0.63) EPS. Research analysts predict that Iovance Biotherapeutics, Inc. will post -2.82 earnings per share for the current fiscal year.

Iovance Biotherapeutics Profile

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Iovance Biotherapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of cell therapies as novel cancer immunotherapy products. Its lead product candidate, LN-144 for metastatic melanoma, is an autologous adoptive cell therapy utilizing tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients’ tumors.