Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 97.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,842 shares of the biotechnology company's stock after selling 1,700,035 shares during the period. Assenagon Asset Management S.A.'s holdings in Iovance Biotherapeutics were worth $156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC increased its holdings in Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock valued at $34,000 after buying an additional 1,794 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Iovance Biotherapeutics by 1.0% in the fourth quarter. Baird Financial Group Inc. now owns 195,845 shares of the biotechnology company's stock valued at $1,449,000 after buying an additional 2,000 shares in the last quarter. Algert Global LLC increased its holdings in Iovance Biotherapeutics by 4.3% in the fourth quarter. Algert Global LLC now owns 56,400 shares of the biotechnology company's stock valued at $417,000 after buying an additional 2,330 shares in the last quarter. HighTower Advisors LLC increased its holdings in Iovance Biotherapeutics by 3.9% in the fourth quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company's stock valued at $586,000 after buying an additional 2,951 shares in the last quarter. Finally, Xponance Inc. increased its holdings in Iovance Biotherapeutics by 18.5% in the fourth quarter. Xponance Inc. now owns 19,607 shares of the biotechnology company's stock valued at $145,000 after buying an additional 3,066 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Price Performance

IOVA traded down $0.06 on Friday, reaching $1.98. 11,213,814 shares of the company's stock were exchanged, compared to its average volume of 8,950,532. The stock has a market cap of $661.18 million, a PE ratio of -1.60 and a beta of 0.86. Iovance Biotherapeutics, Inc. has a twelve month low of $1.64 and a twelve month high of $12.51. The stock's fifty day moving average price is $2.44 and its 200-day moving average price is $4.45.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.11). The business had revenue of $49.32 million for the quarter, compared to analyst estimates of $83.40 million. Iovance Biotherapeutics had a negative return on equity of 49.71% and a negative net margin of 176.49%. The business's revenue was up 6795.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. As a group, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IOVA has been the topic of several research analyst reports. Citizens Jmp lowered shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a research report on Friday, May 9th. Mizuho cut their target price on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating for the company in a research note on Monday, May 12th. Barclays cut their target price on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. Robert W. Baird cut their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Finally, Chardan Capital cut their target price on shares of Iovance Biotherapeutics from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Iovance Biotherapeutics currently has a consensus rating of "Hold" and a consensus price target of $12.22.

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.