Vigilare Wealth Management reduced its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 18.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,550 shares of the biotechnology company’s stock after selling 1,225 shares during the period. Vigilare Wealth Management’s holdings in Iovance Biotherapeutics were worth $258,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in IOVA. Federated Hermes Inc. acquired a new stake in Iovance Biotherapeutics in the 2nd quarter worth approximately $450,000. First Republic Investment Management Inc. lifted its stake in Iovance Biotherapeutics by 57.2% during the 2nd quarter. First Republic Investment Management Inc. now owns 15,896 shares of the biotechnology company’s stock valued at $436,000 after acquiring an additional 5,784 shares during the period. Vanguard Group Inc. lifted its stake in Iovance Biotherapeutics by 9.9% during the 2nd quarter. Vanguard Group Inc. now owns 12,228,470 shares of the biotechnology company’s stock valued at $335,670,000 after acquiring an additional 1,099,259 shares during the period. Glenmede Trust Co. NA increased its holdings in shares of Iovance Biotherapeutics by 5.7% during the 2nd quarter. Glenmede Trust Co. NA now owns 7,430 shares of the biotechnology company’s stock valued at $203,000 after purchasing an additional 400 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Iovance Biotherapeutics during the 2nd quarter valued at approximately $110,000. Institutional investors own 96.43% of the company’s stock.
IOVA has been the subject of several recent research reports. Chardan Capital reaffirmed a “buy” rating and set a $50.00 target price (down from $53.00) on shares of Iovance Biotherapeutics in a report on Tuesday, October 6th. JMP Securities boosted their price target on shares of Iovance Biotherapeutics from $38.00 to $45.00 and gave the stock a “market outperform” rating in a report on Monday, November 9th. Barclays boosted their price target on shares of Iovance Biotherapeutics from $43.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, December 17th. HC Wainwright lowered shares of Iovance Biotherapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, December 15th. Finally, Stifel Nicolaus cut their price target on shares of Iovance Biotherapeutics from $47.00 to $42.00 in a report on Tuesday, October 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $48.55.
Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, November 5th. The biotechnology company reported ($0.40) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.06. On average, equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.85 earnings per share for the current fiscal 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 candidates include lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma; and LN-145 for the treatment of metastatic cervical cancer.
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