TD Asset Management Inc Lowers Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

TD Asset Management Inc trimmed its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVAFree Report) by 23.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,460 shares of the biotechnology company’s stock after selling 78,618 shares during the quarter. TD Asset Management Inc owned 0.10% of Iovance Biotherapeutics worth $2,093,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of IOVA. Quadrant Capital Group LLC raised its holdings in Iovance Biotherapeutics by 1,227.8% in the fourth quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 4,678 shares during the period. Annandale Capital LLC acquired a new stake in shares of Iovance Biotherapeutics in the third quarter worth $32,000. Nisa Investment Advisors LLC raised its stake in shares of Iovance Biotherapeutics by 284.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 5,577 shares during the period. Clear Street Markets LLC acquired a new position in shares of Iovance Biotherapeutics during the 3rd quarter valued at $35,000. Finally, Signaturefd LLC boosted its position in Iovance Biotherapeutics by 256.6% during the 4th quarter. Signaturefd LLC now owns 8,723 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 6,277 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Performance

Shares of IOVA stock opened at $7.78 on Friday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -4.32 and a beta of 0.80. Iovance Biotherapeutics, Inc. has a one year low of $3.21 and a one year high of $18.33. The company’s 50-day simple moving average is $11.55 and its 200-day simple moving average is $10.54.

Iovance Biotherapeutics (NASDAQ:IOVAGet Free Report) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The company had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.99 million. During the same quarter last year, the business posted ($0.50) EPS. Iovance Biotherapeutics’s quarterly revenue was up 71400.0% compared to the same quarter last year. As a group, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on IOVA. Chardan Capital raised their price objective on Iovance Biotherapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Piper Sandler boosted their price target on Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Wells Fargo & Company increased their price objective on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. The Goldman Sachs Group boosted their target price on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to MarketBeat, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.64.

Check Out Our Latest Analysis on IOVA

Iovance Biotherapeutics Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Iovance Biotherapeutics (NASDAQ:IOVA)

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