American Century Companies Inc. Decreases Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

American Century Companies Inc. decreased its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 40.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 203,038 shares of the biotechnology company’s stock after selling 135,478 shares during the quarter. American Century Companies Inc.’s holdings in Iovance Biotherapeutics were worth $1,628,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Iovance Biotherapeutics by 9.2% during 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 grew its holdings in Iovance Biotherapeutics by 74.6% during the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock worth $173,394,000 after acquiring an additional 5,000,000 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Iovance Biotherapeutics by 60.8% in the 1st 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 purchasing an additional 1,991,262 shares during the last quarter. Hood River Capital Management LLC raised its holdings in shares of Iovance Biotherapeutics by 31.1% in the 1st quarter. Hood River Capital Management LLC now owns 2,624,238 shares of the biotechnology company’s stock valued at $38,891,000 after purchasing an additional 622,728 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Iovance Biotherapeutics by 26.4% during the 2nd quarter. Principal Financial Group Inc. now owns 2,536,243 shares of the biotechnology company’s stock worth $20,341,000 after purchasing an additional 530,338 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Analyst Ratings Changes

IOVA has been the topic of several research analyst reports. JMP Securities cut their target price on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, June 20th. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Monday, August 12th. Finally, Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $10.00 in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Iovance Biotherapeutics Stock Up 3.9 %

Shares of NASDAQ IOVA opened at $9.61 on Monday. The stock has a market capitalization of $2.69 billion, a PE ratio of -5.34 and a beta of 0.63. The firm has a fifty day moving average of $9.90 and a 200-day moving average of $10.44. Iovance Biotherapeutics, Inc. has a 52-week low of $3.21 and a 52-week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.01. The company had revenue of $31.11 million for the quarter, compared to analyst estimates 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 firm’s revenue was up 12969.7% compared to the same quarter last year. During the same period last year, the company posted ($0.47) earnings per share. Equities research analysts expect that Iovance Biotherapeutics, Inc. will post -1.26 EPS 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.