Rafferty Asset Management LLC Sells 98,825 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Rafferty Asset Management LLC lowered its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 15.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 554,141 shares of the biotechnology company’s stock after selling 98,825 shares during the period. Rafferty Asset Management LLC’s holdings in Iovance Biotherapeutics were worth $4,101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Man Group plc bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at about $17,871,000. Assenagon Asset Management S.A. bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at about $12,927,000. Raymond James Financial Inc. bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at about $11,568,000. Marshall Wace LLP bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at about $8,365,000. Finally, B Group Inc. bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at about $7,341,000. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $1.66 on Monday. Iovance Biotherapeutics, Inc. has a one year low of $1.64 and a one year high of $12.51. The stock’s 50-day moving average is $3.16 and its 200 day moving average is $5.75. The firm has a market cap of $554.33 million, a price-to-earnings ratio of -1.11 and a beta of 1.06.

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

Analyst Ratings Changes

IOVA has been the topic of a number of analyst reports. Barclays reduced their price target on Iovance Biotherapeutics from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. Mizuho reduced their price target on Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating on the stock in a research report on Monday, May 12th. Citizens Jmp lowered Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a research report on Friday, May 9th. Baird R W lowered Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Finally, Truist Financial lowered Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.30.

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.