US Bancorp DE Sells 7,158 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

US Bancorp DE reduced its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 36.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,497 shares of the biotechnology company’s stock after selling 7,158 shares during the quarter. US Bancorp DE’s holdings in Iovance Biotherapeutics were worth $92,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of IOVA. Proficio Capital Partners LLC acquired a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at $225,000. Bank of New York Mellon Corp boosted its holdings in Iovance Biotherapeutics by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 865,834 shares of the biotechnology company’s stock valued at $6,407,000 after acquiring an additional 23,865 shares during the last quarter. Bray Capital Advisors acquired a new stake in Iovance Biotherapeutics in the fourth quarter worth about $320,000. Rhumbline Advisers raised its holdings in Iovance Biotherapeutics by 9.0% during the 4th quarter. Rhumbline Advisers now owns 385,770 shares of the biotechnology company’s stock worth $2,855,000 after purchasing an additional 31,699 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its position in Iovance Biotherapeutics by 10.1% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 1,950 shares during the period. Institutional investors own 77.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IOVA. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Chardan Capital lowered their target price on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Piper Sandler cut their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Truist Financial decreased their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Robert W. Baird cut 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. One equities research 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.com, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Iovance Biotherapeutics Stock Up 4.2 %

IOVA opened at $3.74 on Tuesday. The stock has a market cap of $1.23 billion, a P/E ratio of -2.51 and a beta of 0.93. Iovance Biotherapeutics, Inc. has a 12 month low of $3.48 and a 12 month high of $15.90. The company has a fifty day simple moving average of $5.40 and a 200 day simple moving average of $7.96.

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

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.