Rice Hall James & Associates LLC Reduces Stock Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Rice Hall James & Associates LLC trimmed its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,594,532 shares of the biotechnology company’s stock after selling 84,625 shares during the quarter. Rice Hall James & Associates LLC owned 0.52% of Iovance Biotherapeutics worth $11,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Iovance Biotherapeutics during the 4th quarter worth $515,000. Jennison Associates LLC purchased a new position in Iovance Biotherapeutics during the 4th quarter worth $493,000. Barclays PLC grew its stake in Iovance Biotherapeutics by 118.8% during the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock worth $5,677,000 after buying an additional 328,284 shares during the last quarter. Principal Financial Group Inc. grew its stake in Iovance Biotherapeutics by 59.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after buying an additional 1,496,941 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Iovance Biotherapeutics during the 3rd quarter valued at about $920,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group assumed coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $17.00 price target on the stock. Piper Sandler dropped their price target on Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.69.

Iovance Biotherapeutics Stock Up 4.3 %

Shares of IOVA opened at $5.57 on Tuesday. Iovance Biotherapeutics, Inc. has a 52 week low of $5.05 and a 52 week high of $18.33. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -3.74 and a beta of 0.53. The stock’s 50-day moving average price is $6.65 and its 200-day moving average price is $8.77.

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.