The Manufacturers Life Insurance Company Sells 32,280 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

The Manufacturers Life Insurance Company reduced its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 279,627 shares of the biotechnology company’s stock after selling 32,280 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.09% of Iovance Biotherapeutics worth $2,069,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. AlphaQuest LLC lifted its position in shares of Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 1,794 shares during the period. SBI Securities Co. Ltd. acquired a new position in Iovance Biotherapeutics in the fourth quarter valued at $36,000. Quarry LP bought a new stake in Iovance Biotherapeutics during the fourth quarter valued at $74,000. Integrity Wealth Advisors Inc. bought a new stake in Iovance Biotherapeutics during the fourth quarter valued at $77,000. Finally, Jump Financial LLC acquired a new stake in Iovance Biotherapeutics during the 4th quarter worth about $79,000. 77.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IOVA shares. JMP Securities restated a “market perform” rating on shares of Iovance Biotherapeutics in a research report on Friday. Robert W. Baird cut their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Baird R W lowered shares of Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday. Barclays cut their target price on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group decreased their price target on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.33.

Iovance Biotherapeutics Stock Performance

IOVA stock opened at $1.75 on Friday. The business has a 50-day simple moving average of $3.36 and a two-hundred day simple moving average of $6.10. The company has a market capitalization of $584.38 million, a P/E ratio of -1.17 and a beta of 1.06. Iovance Biotherapeutics, Inc. has a 52-week low of $1.65 and a 52-week high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.11). The company had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The company’s quarterly revenue was up 6795.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.42) EPS. As a group, sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Iovance Biotherapeutics Profile

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.