Meeder Asset Management Inc. raised its stake in shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 453.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,356 shares of the biotechnology company’s stock after acquiring an additional 5,207 shares during the period. Meeder Asset Management Inc.’s holdings in Iovance Biotherapeutics were worth $116,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. M&T Bank Corp purchased a new stake in Iovance Biotherapeutics during the 2nd quarter valued at approximately $270,000. JPMorgan Chase & Co. raised its stake in Iovance Biotherapeutics by 4.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 464,176 shares of the biotechnology company’s stock valued at $10,486,000 after acquiring an additional 19,532 shares during the last quarter. Atika Capital Management LLC purchased a new stake in Iovance Biotherapeutics during the 2nd quarter valued at approximately $4,536,000. DekaBank Deutsche Girozentrale raised its stake in Iovance Biotherapeutics by 21.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 109,000 shares of the biotechnology company’s stock valued at $2,462,000 after acquiring an additional 19,000 shares during the last quarter. Finally, Artal Group S.A. raised its stake in Iovance Biotherapeutics by 40.0% during the 2nd quarter. Artal Group S.A. now owns 700,000 shares of the biotechnology company’s stock valued at $17,164,000 after acquiring an additional 200,000 shares during the last quarter. 98.79% of the stock is owned by hedge funds and other institutional investors.
NASDAQ IOVA opened at $20.28 on Friday. The company has a current ratio of 12.15, a quick ratio of 12.14 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $19.71 and its two-hundred day moving average is $18.91. Iovance Biotherapeutics Inc has a 12-month low of $7.26 and a 12-month high of $26.59.
Several research firms have commented on IOVA. ValuEngine downgraded Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. B. Riley set a $28.00 price objective on Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Friday, August 16th. Oppenheimer set a $32.00 price objective on Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Stifel Nicolaus began coverage on Iovance Biotherapeutics in a research note on Monday, September 30th. They set a “buy” rating and a $27.00 price objective for the company. Finally, BidaskClub raised Iovance Biotherapeutics from a “strong sell” rating to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $29.00.
Iovance Biotherapeutics Company 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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