Hussman Strategic Advisors Inc. Trims Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Hussman Strategic Advisors Inc. cut its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 42.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 84,000 shares of the biotechnology company’s stock after selling 63,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Iovance Biotherapeutics were worth $622,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Iovance Biotherapeutics by 9.0% during the fourth quarter. Rhumbline Advisers now owns 385,770 shares of the biotechnology company’s stock worth $2,855,000 after acquiring an additional 31,699 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Iovance Biotherapeutics by 10.1% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company’s stock worth $158,000 after acquiring an additional 1,950 shares during the last quarter. Banque Pictet & Cie SA boosted its position in shares of Iovance Biotherapeutics by 17.0% during the fourth quarter. Banque Pictet & Cie SA now owns 376,591 shares of the biotechnology company’s stock worth $2,787,000 after acquiring an additional 54,832 shares during the last quarter. Choreo LLC boosted its position in shares of Iovance Biotherapeutics by 39.5% during the fourth quarter. Choreo LLC now owns 30,445 shares of the biotechnology company’s stock worth $218,000 after acquiring an additional 8,625 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Iovance Biotherapeutics during the fourth quarter worth $493,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Down 0.7 %

IOVA stock opened at $5.61 on Friday. Iovance Biotherapeutics, Inc. has a 52 week low of $5.05 and a 52 week high of $18.33. The company has a fifty day simple moving average of $6.48 and a two-hundred day simple moving average of $8.71. The firm has a market capitalization of $1.71 billion, a P/E ratio of -3.77 and a beta of 0.53.

Wall Street Analyst Weigh In

IOVA has been the subject of a number of research reports. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. Piper Sandler dropped their target price on shares of Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, UBS Group began coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.07.

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.