BlackRock Inc. Sells 27,773 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

BlackRock Inc. reduced its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,974,815 shares of the biotechnology company’s stock after selling 27,773 shares during the period. BlackRock Inc. owned 5.90% of Iovance Biotherapeutics worth $284,140,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake in Iovance Biotherapeutics by 41.0% in the first quarter. BNP Paribas Arbitrage SA now owns 6,966 shares of the biotechnology company’s stock worth $221,000 after buying an additional 2,025 shares in the last quarter. Swiss National Bank raised its stake in Iovance Biotherapeutics by 1.2% in the first quarter. Swiss National Bank now owns 251,356 shares of the biotechnology company’s stock worth $7,958,000 after buying an additional 3,000 shares in the last quarter. Alliancebernstein L.P. raised its stake in Iovance Biotherapeutics by 33.0% in the first quarter. Alliancebernstein L.P. now owns 2,375,814 shares of the biotechnology company’s stock worth $75,218,000 after buying an additional 589,285 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Iovance Biotherapeutics by 55.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,241 shares of the biotechnology company’s stock worth $324,000 after buying an additional 3,633 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. bought a new position in Iovance Biotherapeutics in the first quarter worth about $60,000.

Shares of IOVA stock opened at $23.14 on Friday. Iovance Biotherapeutics, Inc. has a 12-month low of $15.88 and a 12-month high of $54.21. The stock has a 50 day moving average of $26.12. The stock has a market capitalization of $3.54 billion, a PE ratio of -12.51 and a beta of 0.82.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, May 6th. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.03). Equities research analysts expect that Iovance Biotherapeutics, Inc. will post -2.07 EPS for the current fiscal year.

IOVA has been the subject of a number of analyst reports. Barclays decreased their target price on shares of Iovance Biotherapeutics from $60.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, May 19th. Truist Securities initiated coverage on shares of Iovance Biotherapeutics in a research note on Monday, May 3rd. They set a “buy” rating and a $50.00 target price for the company. Robert W. Baird decreased their target price on shares of Iovance Biotherapeutics from $55.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, May 20th. HC Wainwright decreased their target price on shares of Iovance Biotherapeutics from $50.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, May 19th. Finally, JMP Securities raised shares of Iovance Biotherapeutics from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.92.

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

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