Artisan Partners Limited Partnership Has $31.16 Million Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Artisan Partners Limited Partnership raised its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 24.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,426,741 shares of the biotechnology company’s stock after acquiring an additional 858,035 shares during the period. Artisan Partners Limited Partnership owned about 1.79% of Iovance Biotherapeutics worth $31,164,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its holdings 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 in the last quarter. Baird Financial Group Inc. raised its holdings in shares of Iovance Biotherapeutics by 3.7% in the 1st quarter. Baird Financial Group Inc. now owns 27,545 shares of the biotechnology company’s stock worth $459,000 after buying an additional 995 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Iovance Biotherapeutics by 0.5% in the 1st quarter. American Century Companies Inc. now owns 319,310 shares of the biotechnology company’s stock worth $1,951,000 after buying an additional 1,649 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Iovance Biotherapeutics by 2.7% in the 2nd quarter. Macquarie Group Ltd. now owns 66,393 shares of the biotechnology company’s stock worth $733,000 after buying an additional 1,721 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Iovance Biotherapeutics by 54.5% in the 3rd quarter. Royal Bank of Canada now owns 5,066 shares of the biotechnology company’s stock worth $48,000 after buying an additional 1,787 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

Analyst Ratings Changes

IOVA has been the subject of a number of recent research reports. JMP Securities reissued a “market outperform” rating and issued a $18.00 target price on shares of Iovance Biotherapeutics in a report on Friday, September 15th. Robert W. Baird decreased their price target on Iovance Biotherapeutics from $23.00 to $20.00 in a research report on Wednesday, August 9th. Stifel Nicolaus decreased their price target on Iovance Biotherapeutics from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, September 13th. Chardan Capital restated a “buy” rating and set a $29.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, August 16th. Finally, Mizuho restated a “buy” rating and set a $30.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, September 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.77.

Insider Activity

In related news, Director Merrill A. Mcpeak purchased 10,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were bought at an average price of $5.56 per share, with a total value of $55,600.00. Following the purchase, the director now directly owns 248,633 shares in the company, valued at approximately $1,382,399.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Iovance Biotherapeutics news, Director Wayne P. Rothbaum acquired 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average price of $5.30 per share, with a total value of $26,500,000.00. Following the purchase, the director now owns 23,067,333 shares of the company’s stock, valued at approximately $122,256,864.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Merrill A. Mcpeak acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were acquired at an average cost of $5.56 per share, for a total transaction of $55,600.00. Following the purchase, the director now directly owns 248,633 shares in the company, valued at approximately $1,382,399.48. The disclosure for this purchase can be found here. 10.40% of the stock is currently owned by company insiders.

Iovance Biotherapeutics Stock Performance

Shares of IOVA opened at $5.05 on Friday. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -2.44 and a beta of 0.11. The business’s fifty day moving average price is $4.31 and its two-hundred day moving average price is $6.31. Iovance Biotherapeutics, Inc. has a 52 week low of $3.21 and a 52 week high of $9.36.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.46) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.46). The company had revenue of $0.47 million during the quarter, compared to analyst estimates of $4.50 million. During the same period last year, the company earned ($0.63) EPS. As a group, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.88 EPS 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 lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.