Vident Investment Advisory LLC cut its position in shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 8.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,419 shares of the biotechnology company’s stock after selling 17,911 shares during the quarter. Vident Investment Advisory LLC owned approximately 0.20% of Iovance Biotherapeutics worth $2,463,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in IOVA. Wells Fargo & Company MN increased its position in shares of Iovance Biotherapeutics by 9.9% during the 1st quarter. Wells Fargo & Company MN now owns 54,832 shares of the biotechnology company’s stock valued at $926,000 after purchasing an additional 4,957 shares during the last quarter. Rhumbline Advisers grew its position in Iovance Biotherapeutics by 27.4% during the 1st quarter. Rhumbline Advisers now owns 70,959 shares of the biotechnology company’s stock worth $1,199,000 after acquiring an additional 15,241 shares during the last quarter. SG Americas Securities LLC bought a new position in Iovance Biotherapeutics during the 1st quarter worth approximately $216,000. DekaBank Deutsche Girozentrale bought a new position in Iovance Biotherapeutics during the 1st quarter worth approximately $700,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Iovance Biotherapeutics during the 1st quarter worth approximately $145,000. Hedge funds and other institutional investors own 87.03% of the company’s stock.
Several research firms recently issued reports on IOVA. HC Wainwright set a $22.00 price target on Iovance Biotherapeutics and gave the stock a “buy” rating in a research report on Thursday, September 6th. Zacks Investment Research lowered Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. BidaskClub upgraded Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, Chardan Capital reiterated a “buy” rating and issued a $30.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, July 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $22.69.
Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Monday, August 6th. The biotechnology company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.02). As a group, analysts expect that Iovance Biotherapeutics Inc will post -1.32 earnings per share for the current year.
Iovance Biotherapeutics Profile
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. The company's lead product candidate is LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.
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