Avoro Capital Advisors LLC Sells 740,000 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Avoro Capital Advisors LLC lessened its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,500,000 shares of the biotechnology company's stock after selling 740,000 shares during the period. Avoro Capital Advisors LLC owned 1.15% of Iovance Biotherapeutics worth $25,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. B Group Inc. acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at $7,341,000. Tower Research Capital LLC TRC grew its stake in Iovance Biotherapeutics by 91.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 44,390 shares of the biotechnology company's stock valued at $328,000 after buying an additional 21,157 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Iovance Biotherapeutics by 13.3% in the 4th quarter. MetLife Investment Management LLC now owns 165,842 shares of the biotechnology company's stock valued at $1,227,000 after acquiring an additional 19,426 shares during the period. Dimensional Fund Advisors LP lifted its position in Iovance Biotherapeutics by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,430,221 shares of the biotechnology company's stock worth $17,979,000 after acquiring an additional 360,629 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in Iovance Biotherapeutics during the fourth quarter worth approximately $2,399,000. Institutional investors and hedge funds own 77.03% of the company's stock.

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA traded up $0.15 during trading hours on Friday, hitting $3.51. The company's stock had a trading volume of 14,756,313 shares, compared to its average volume of 7,579,939. The company has a market capitalization of $1.15 billion, a P/E ratio of -2.36 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a twelve month low of $2.70 and a twelve month high of $14.23. The stock has a fifty day simple moving average of $3.73 and a 200-day simple moving average of $6.58.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The business had revenue of $73.69 million during the quarter, compared to analysts' expectations of $72.17 million. On average, equities analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IOVA has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group dropped their price objective 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. Truist Financial reduced their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Barclays dropped their price objective on Iovance Biotherapeutics from $22.00 to $5.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, HC Wainwright reissued a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.22.

Iovance Biotherapeutics Company 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.