Millennium Management LLC raised its position in Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 229.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 406,526 shares of the biotechnology company’s stock after acquiring an additional 283,007 shares during the period. Millennium Management LLC owned approximately 0.32% of Iovance Biotherapeutics worth $7,398,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Iovance Biotherapeutics by 178.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,264,096 shares of the biotechnology company’s stock worth $30,996,000 after purchasing an additional 809,398 shares in the last quarter. SG Americas Securities LLC raised its stake in Iovance Biotherapeutics by 95.0% in the second quarter. SG Americas Securities LLC now owns 135,101 shares of the biotechnology company’s stock valued at $3,313,000 after buying an additional 65,832 shares during the last quarter. Aperio Group LLC acquired a new stake in Iovance Biotherapeutics in the second quarter worth about $86,000. Tocqueville Asset Management L.P. boosted its holdings in Iovance Biotherapeutics by 187.9% in the second quarter. Tocqueville Asset Management L.P. now owns 127,055 shares of the biotechnology company’s stock worth $3,115,000 after acquiring an additional 82,930 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of Iovance Biotherapeutics during the second quarter worth about $459,000. Institutional investors own 98.10% of the company’s stock.
Shares of NASDAQ:IOVA opened at $25.62 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.61 and a current ratio of 10.61. Iovance Biotherapeutics Inc has a 52-week low of $7.26 and a 52-week high of $26.59. The business has a 50-day moving average price of $22.27 and a 200-day moving average price of $21.33.
Several equities analysts have recently issued reports on IOVA shares. Jefferies Financial Group set a $33.00 price objective on shares of Iovance Biotherapeutics and gave the company a “buy” rating in a report on Monday, August 26th. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Thursday, November 21st. BidaskClub raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus initiated coverage on shares of Iovance Biotherapeutics in a report on Monday, September 30th. They issued a “buy” rating and a $27.00 price target for the company. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $29.27.
Iovance Biotherapeutics Profile
Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is lifileucel, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.
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