Biondo Investment Advisors LLC Decreases Position in Iovance Biotherapeutics Inc (NASDAQ:IOVA)

Biondo Investment Advisors LLC lessened its holdings in shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 184,085 shares of the biotechnology company’s stock after selling 750 shares during the period. Biondo Investment Advisors LLC owned approximately 0.15% of Iovance Biotherapeutics worth $5,095,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank raised its stake in shares of Iovance Biotherapeutics by 2.2% during the 4th quarter. Swiss National Bank now owns 201,500 shares of the biotechnology company’s stock valued at $5,578,000 after buying an additional 4,400 shares during the last quarter. Candriam Luxembourg S.C.A. raised its stake in shares of Iovance Biotherapeutics by 149.6% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 173,478 shares of the biotechnology company’s stock valued at $4,802,000 after buying an additional 103,978 shares during the last quarter. American International Group Inc. raised its stake in shares of Iovance Biotherapeutics by 1.3% during the 4th quarter. American International Group Inc. now owns 73,368 shares of the biotechnology company’s stock valued at $2,031,000 after buying an additional 953 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Iovance Biotherapeutics by 4.2% during the 4th quarter. Rhumbline Advisers now owns 161,301 shares of the biotechnology company’s stock valued at $4,465,000 after buying an additional 6,498 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Iovance Biotherapeutics by 17.6% during the 4th quarter. New York State Common Retirement Fund now owns 417,739 shares of the biotechnology company’s stock valued at $11,563,000 after buying an additional 62,601 shares during the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

NASDAQ:IOVA opened at $23.62 on Thursday. Iovance Biotherapeutics Inc has a 52 week low of $9.21 and a 52 week high of $29.67. The company has a quick ratio of 10.61, a current ratio of 10.61 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $2.94 billion, a PE ratio of -17.50 and a beta of 2.13. The stock’s 50-day moving average price is $24.60 and its 200-day moving average price is $22.55.

A number of equities analysts have weighed in on IOVA shares. ValuEngine lowered Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. JMP Securities started coverage on Iovance Biotherapeutics in a research note on Wednesday, December 18th. They set an “outperform” rating and a $38.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Thursday, November 21st. Zacks Investment Research lowered Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 14th. Finally, Chardan Capital reiterated a “buy” rating and set a $33.00 price objective on shares of Iovance Biotherapeutics in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $31.73.

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, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.

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

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