Victory Capital Management Inc. trimmed its holdings in shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 20.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,101,163 shares of the biotechnology company’s stock after selling 537,160 shares during the quarter. Victory Capital Management Inc. owned approximately 2.47% of Iovance Biotherapeutics worth $16,809,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Legal & General Group Plc purchased a new stake in Iovance Biotherapeutics in the 2nd quarter valued at $103,000. Parametric Portfolio Associates LLC purchased a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth $125,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Iovance Biotherapeutics during the 3rd quarter worth $133,000. Edge Wealth Management LLC purchased a new position in shares of Iovance Biotherapeutics during the 3rd quarter worth $150,000. Finally, Jane Street Group LLC purchased a new position in shares of Iovance Biotherapeutics during the 3rd quarter worth $164,000. 65.08% of the stock is owned by institutional investors and hedge funds.
Shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) traded up $0.55 during mid-day trading on Tuesday, hitting $17.95. The company’s stock had a trading volume of 831,700 shares, compared to its average volume of 1,223,277. Iovance Biotherapeutics Inc has a one year low of $4.45 and a one year high of $18.30. The stock has a market cap of $1,530.00, a P/E ratio of -13.70 and a beta of 6.20.
IOVA has been the subject of a number of research analyst reports. FBR & Co restated a “buy” rating and set a $17.50 target price on shares of Iovance Biotherapeutics in a report on Wednesday, October 25th. Jefferies Group restated a “buy” rating on shares of Iovance Biotherapeutics in a report on Sunday, October 29th. HC Wainwright set a $16.00 price target on Iovance Biotherapeutics and gave the company a “buy” rating in a research report on Monday, October 30th. Oppenheimer set a $13.00 price target on Iovance Biotherapeutics and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, B. Riley increased their price target on Iovance Biotherapeutics from $17.50 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Iovance Biotherapeutics currently has a consensus rating of “Buy” and an average price target of $18.75.
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About Iovance Biotherapeutics
Iovance Biotherapeutics, Inc, formerly Lion Biotechnologies, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead program is an adoptive cell therapy utilizing tumor-infiltrating lymphocytes, which are T cells derived from patients’ tumors, for the treatment of metastatic melanoma.
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