Baird Financial Group Inc. Trims Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Baird Financial Group Inc. lessened its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVAGet Rating) by 30.2% during the second quarter, HoldingsChannel reports. The firm owned 19,234 shares of the biotechnology company’s stock after selling 8,311 shares during the quarter. Baird Financial Group Inc.’s holdings in Iovance Biotherapeutics were worth $212,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Treasurer of the State of North Carolina raised its position in shares of Iovance Biotherapeutics by 1.6% in the 1st quarter. Treasurer of the State of North Carolina now owns 54,917 shares of the biotechnology company’s stock worth $914,000 after buying an additional 878 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Iovance Biotherapeutics by 6.0% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,007 shares of the biotechnology company’s stock worth $267,000 after buying an additional 909 shares during the period. Lazard Asset Management LLC raised its position in shares of Iovance Biotherapeutics by 38.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company’s stock worth $55,000 after buying an additional 934 shares during the period. GSA Capital Partners LLP raised its position in shares of Iovance Biotherapeutics by 9.3% in the 1st quarter. GSA Capital Partners LLP now owns 16,823 shares of the biotechnology company’s stock worth $280,000 after buying an additional 1,425 shares during the period. Finally, AlphaCrest Capital Management LLC raised its position in shares of Iovance Biotherapeutics by 11.7% in the 1st quarter. AlphaCrest Capital Management LLC now owns 17,538 shares of the biotechnology company’s stock worth $292,000 after buying an additional 1,838 shares during the period.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $6.22 on Thursday. The business has a 50-day moving average of $9.04 and a 200-day moving average of $10.53. The company has a market capitalization of $981.77 million, a PE ratio of -2.52 and a beta of 0.50. Iovance Biotherapeutics, Inc. has a 1-year low of $5.42 and a 1-year high of $20.60.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IOVA. JMP Securities cut their target price on Iovance Biotherapeutics from $25.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Monday. Robert W. Baird lowered their price target on Iovance Biotherapeutics from $34.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, August 5th. Chardan Capital lowered their price target on Iovance Biotherapeutics from $30.00 to $29.00 and set a “buy” rating for the company in a report on Friday, November 18th. Guggenheim began coverage on Iovance Biotherapeutics in a report on Monday, October 31st. They issued a “neutral” rating for the company. Finally, Oppenheimer lowered their price target on Iovance Biotherapeutics from $27.00 to $25.00 in a report on Friday, November 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.40.

About Iovance Biotherapeutics

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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.

Further Reading

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

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