TD Asset Management Inc Sells 220,400 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

TD Asset Management Inc trimmed its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 43.6% during the 2nd quarter, Holdings Channel reports. The firm owned 284,878 shares of the biotechnology company’s stock after selling 220,400 shares during the quarter. TD Asset Management Inc’s holdings in Iovance Biotherapeutics were worth $2,285,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock worth $369,245,000 after buying an additional 2,102,480 shares in the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of Iovance Biotherapeutics by 74.6% during the first quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock valued at $173,394,000 after acquiring an additional 5,000,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Iovance Biotherapeutics by 60.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock valued at $78,071,000 after acquiring an additional 1,991,262 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of Iovance Biotherapeutics by 31.1% during the first quarter. Hood River Capital Management LLC now owns 2,624,238 shares of the biotechnology company’s stock valued at $38,891,000 after acquiring an additional 622,728 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Iovance Biotherapeutics by 26.4% during the second quarter. Principal Financial Group Inc. now owns 2,536,243 shares of the biotechnology company’s stock valued at $20,341,000 after acquiring an additional 530,338 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $9.46 on Friday. The stock has a market capitalization of $2.65 billion, a PE ratio of -5.26 and a beta of 0.63. The business’s fifty day moving average is $9.54 and its 200 day moving average is $11.02. Iovance Biotherapeutics, Inc. has a one year low of $3.21 and a one year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The business had revenue of $31.11 million during the quarter, compared to the consensus estimate of $24.59 million. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The business’s quarterly revenue was up 12969.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.47) EPS. As a group, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on IOVA. HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Monday, August 12th. JMP Securities decreased their price objective on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a report on Thursday, June 20th. Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $19.00 to $10.00 in a report on Monday, July 29th. Finally, StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Moderate Buy” and an average price target of $24.00.

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.