Perceptive Advisors LLC boosted its position in Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,776,114 shares of the biotechnology company’s stock after purchasing an additional 50,000 shares during the quarter. Iovance Biotherapeutics makes up approximately 1.3% of Perceptive Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Perceptive Advisors LLC owned about 5.62% of Iovance Biotherapeutics worth $38,208,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Parametric Portfolio Associates LLC bought a new position in Iovance Biotherapeutics in the second quarter worth about $125,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Iovance Biotherapeutics during the third quarter worth about $133,000. Ellington Management Group LLC grew its stake in shares of Iovance Biotherapeutics by 39.1% during the fourth quarter. Ellington Management Group LLC now owns 19,200 shares of the biotechnology company’s stock worth $154,000 after acquiring an additional 5,400 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth about $154,000. Finally, Jane Street Group LLC purchased a new stake in shares of Iovance Biotherapeutics during the third quarter worth about $164,000. Institutional investors and hedge funds own 67.82% of the company’s stock.
A number of equities research analysts have recently weighed in on IOVA shares. HC Wainwright set a $16.00 price target on Iovance Biotherapeutics and gave the stock a “buy” rating in a research note on Thursday, December 14th. Oppenheimer set a $13.00 price target on Iovance Biotherapeutics and gave the stock a “buy” rating in a research note on Thursday, December 14th. B. Riley restated a “buy” rating and set a $18.00 price target on shares of Iovance Biotherapeutics in a research note on Wednesday, December 13th. BidaskClub lowered Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Finally, Zacks Investment Research upgraded Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, January 17th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Iovance Biotherapeutics presently has a consensus rating of “Buy” and an average price target of $19.33.
Iovance Biotherapeutics Profile
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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