Wealth Enhancement Advisory Services LLC Lowers Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Wealth Enhancement Advisory Services LLC lessened its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 23.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,738 shares of the biotechnology company’s stock after selling 5,671 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Iovance Biotherapeutics were worth $139,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northern Trust Corp raised its position in shares of Iovance Biotherapeutics by 7.4% in the fourth quarter. Northern Trust Corp now owns 2,414,807 shares of the biotechnology company’s stock worth $17,870,000 after buying an additional 166,231 shares in the last quarter. Wells Fargo & Company MN increased its stake in Iovance Biotherapeutics by 0.8% in the fourth quarter. Wells Fargo & Company MN now owns 580,245 shares of the biotechnology company’s stock valued at $4,294,000 after acquiring an additional 4,401 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Iovance Biotherapeutics by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,989,340 shares of the biotechnology company’s stock valued at $14,721,000 after acquiring an additional 76,196 shares during the last quarter. Vanguard Group Inc. increased its stake in Iovance Biotherapeutics by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company’s stock valued at $203,754,000 after acquiring an additional 220,373 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Iovance Biotherapeutics by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 865,834 shares of the biotechnology company’s stock valued at $6,407,000 after acquiring an additional 23,865 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

NASDAQ IOVA opened at $2.02 on Wednesday. The stock has a market capitalization of $674.54 million, a PE ratio of -1.63 and a beta of 0.86. Iovance Biotherapeutics, Inc. has a 1 year low of $1.64 and a 1 year high of $12.51. The business’s 50-day moving average is $2.51 and its 200 day moving average is $4.59.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative return on equity of 49.71% and a negative net margin of 176.49%. The company had revenue of $49.32 million during the quarter, compared to analysts’ expectations of $83.40 million. During the same quarter last year, the business earned ($0.42) earnings per share. The business’s quarterly revenue was up 6795.1% on a year-over-year basis. As a group, equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

IOVA has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Mizuho reduced their price objective on Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating on the stock in a research note on Monday, May 12th. JMP Securities reaffirmed a “market perform” rating on shares of Iovance Biotherapeutics in a research note on Friday, May 9th. Piper Sandler reduced their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Finally, HC Wainwright reduced their price objective on Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.30.

Iovance Biotherapeutics Company Profile

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.