Arete Wealth Advisors LLC Sells 8,850 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Arete Wealth Advisors LLC decreased its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 25.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,750 shares of the biotechnology company’s stock after selling 8,850 shares during the period. Arete Wealth Advisors LLC’s holdings in Iovance Biotherapeutics were worth $191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Iovance Biotherapeutics by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company’s stock valued at $203,754,000 after purchasing an additional 220,373 shares during the period. State Street Corp lifted its position in shares of Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock valued at $123,967,000 after buying an additional 576,801 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Iovance Biotherapeutics by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock valued at $43,458,000 after acquiring an additional 222,425 shares during the period. Principal Financial Group Inc. increased its holdings in Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after acquiring an additional 1,496,941 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Iovance Biotherapeutics by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,989,340 shares of the biotechnology company’s stock valued at $14,721,000 after purchasing an additional 76,196 shares in the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on IOVA. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Chardan Capital decreased their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Truist Financial dropped their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Piper Sandler lowered their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Finally, Robert W. Baird cut their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics Stock Performance

IOVA stock opened at $3.03 on Tuesday. The firm has a market cap of $993.47 million, a PE ratio of -2.03 and a beta of 1.05. The firm has a fifty day moving average price of $4.55 and a 200 day moving average price of $7.24. Iovance Biotherapeutics, Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). The firm had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. On average, equities analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 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.