Mirae Asset Global Investments Co. Ltd. Trims Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,946 shares of the biotechnology company’s stock after selling 5,068 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of Iovance Biotherapeutics worth $1,162,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IOVA. Vanguard Group Inc. boosted its position in shares of Iovance Biotherapeutics by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,143,470 shares of the biotechnology company’s stock valued at $100,753,000 after purchasing an additional 1,748,082 shares during the period. Sectoral Asset Management Inc. acquired a new stake in shares of Iovance Biotherapeutics in the third quarter valued at approximately $4,482,000. Principal Financial Group Inc. grew its position in shares of Iovance Biotherapeutics by 41.3% during the third quarter. Principal Financial Group Inc. now owns 2,643,155 shares of the biotechnology company’s stock worth $12,026,000 after acquiring an additional 772,905 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Iovance Biotherapeutics by 13.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 5,036,479 shares of the biotechnology company’s stock valued at $22,916,000 after acquiring an additional 609,738 shares during the period. Finally, Rafferty Asset Management LLC raised its position in Iovance Biotherapeutics by 42.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 1,496,170 shares of the biotechnology company’s stock valued at $6,808,000 after purchasing an additional 443,249 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Merrill A. Mcpeak purchased 250,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average price of $9.15 per share, with a total value of $2,287,500.00. Following the purchase, the director now directly owns 320,150 shares of the company’s stock, valued at approximately $2,929,372.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IOVA. The Goldman Sachs Group raised their price objective on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Piper Sandler upped their price objective on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Thursday, February 29th. Wells Fargo & Company upped their price target on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, JMP Securities lifted their price objective on shares of Iovance Biotherapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.64.

Iovance Biotherapeutics Stock Up 0.1 %

Shares of IOVA opened at $11.32 on Tuesday. The company has a market capitalization of $3.16 billion, a PE ratio of -6.02 and a beta of 0.62. Iovance Biotherapeutics, Inc. has a 52-week low of $3.21 and a 52-week high of $18.33. The company has a 50-day simple moving average of $13.90 and a 200-day simple moving average of $9.02.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.01). The firm had revenue of $0.48 million for the quarter, compared to the consensus estimate of $1.44 million. During the same period last year, the firm posted ($0.64) EPS. On average, research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.4 EPS for the current year.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.