Shell Asset Management Co. Sells 2,924 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Shell Asset Management Co. reduced its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Rating) by 20.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,164 shares of the biotechnology company’s stock after selling 2,924 shares during the period. Shell Asset Management Co.’s holdings in Iovance Biotherapeutics were worth $107,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in IOVA. Artisan Partners Limited Partnership increased its holdings in Iovance Biotherapeutics by 2.5% during the second quarter. Artisan Partners Limited Partnership now owns 2,778,802 shares of the biotechnology company’s stock worth $30,678,000 after buying an additional 66,788 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Iovance Biotherapeutics during the third quarter worth about $171,000. Bank of Montreal Can purchased a new stake in Iovance Biotherapeutics during the third quarter worth about $6,694,000. Strategic Wealth Advisors Group LLC purchased a new stake in Iovance Biotherapeutics during the third quarter worth about $300,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in Iovance Biotherapeutics by 42.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 209,187 shares of the biotechnology company’s stock worth $2,004,000 after buying an additional 61,960 shares during the last quarter. 96.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Iovance Biotherapeutics

In related news, Director Merrill A. Mcpeak bought 10,000 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was acquired at an average cost of $6.15 per share, for a total transaction of $61,500.00. Following the completion of the transaction, the director now directly owns 70,150 shares in the company, valued at approximately $431,422.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Chardan Capital reiterated a “buy” rating and issued a $29.00 target price on shares of Iovance Biotherapeutics in a research note on Wednesday. Piper Sandler upgraded shares of Iovance Biotherapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $11.00 to $14.00 in a research note on Friday, January 27th. Truist Financial lifted their target price on shares of Iovance Biotherapeutics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, January 24th. Oppenheimer reduced their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, JMP Securities reduced their target price on shares of Iovance Biotherapeutics from $25.00 to $21.00 and set a “market outperform” rating for the company in a research note on Monday, November 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.50.

Iovance Biotherapeutics Trading Down 2.5 %

IOVA stock opened at $7.12 on Friday. The firm has a 50 day moving average of $6.95 and a 200-day moving average of $8.36. Iovance Biotherapeutics, Inc. has a 12 month low of $5.42 and a 12 month high of $18.73. The firm has a market capitalization of $1.12 billion, a P/E ratio of -2.87 and a beta of 0.24.

Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The biotechnology company reported ($0.64) EPS for the quarter, meeting analysts’ consensus estimates of ($0.64). During the same quarter in the prior year, the business earned ($0.63) earnings per share. Sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -2.88 EPS for the current year.

Iovance Biotherapeutics Company Profile

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Iovance Biotherapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of cell therapies as novel cancer immunotherapy products. Its lead product candidate, LN-144 for metastatic melanoma, is an autologous adoptive cell therapy utilizing tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients’ tumors.