New York State Common Retirement Fund Reduces Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

On February 26th, 2025, it was reported that the New York State Common Retirement Fund has decreased its shareholding in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 8.1% during the fourth quarter of the fiscal year. After selling 98,840 shares, the fund now holds a total of 1,121,417 shares of the biotechnology company's stock. According to the latest filing with the Securities and Exchange Commission, the total value of New York State Common Retirement Fund's investment in Iovance Biotherapeutics amounts to approximately $8,298,000.

In addition to the New York State Common Retirement Fund's adjustments, several other institutional investors and hedge funds have also altered their positions in the company. For instance, during the fourth quarter, Impact Partnership Wealth LLC acquired a new stake in Iovance Biotherapeutics valued at around $83,000. Similarly, Clear Creek Financial Management LLC purchased a new position worth approximately $91,000 in the same period.

Another significant move came from KBC Group NV, which enhanced its stake in the biotechnology firm by an impressive 105.7%. Through the acquisition of an additional 6,321 shares, KBC Group NV now owns a total of 12,303 shares, worth around $91,000. Moreover, Mirae Asset Global Investments Co. Ltd. increased its holdings in Iovance Biotherapeutics by 31.4% in the prior quarter, now holding 10,978 shares valued at $105,000 after buying an additional 2,624 shares. Additionally, Assetmark Inc. raised its position in the company by 48.0%, owning 12,853 shares worth approximately $121,000.

Overall, institutional investors and hedge funds collectively own about 77.03% of Iovance Biotherapeutics stock.

Recent Analyst Ratings

The stock of Iovance Biotherapeutics has recently been the focus of various analyst ratings. On January 31st, Piper Sandler reduced their target price for the shares from $10.00 to $7.50 while assigning a "neutral" rating. Conversely, HC Wainwright maintained a "buy" rating and set a target price of $32.00 in a report on November 6th.

Overall, one analyst has given the stock a sell rating, one has issued a hold rating, while six analysts recommend it as a buy. According to data from MarketBeat.com, Iovance Biotherapeutics currently has a consensus rating of "Moderate Buy" along with a consensus target price of $21.07.

Iovance Biotherapeutics Stock Overview

As for the stock's performance, it opened at $5.34 on Wednesday. The company boasts a market capitalization of about $1.63 billion, with a price-to-earnings ratio of -3.58 and a beta of 0.54. Over the past fifty-two weeks, Iovance Biotherapeutics has witnessed a low of $5.05 and a high of $18.33. The firm’s stock has a 50-day simple moving average of $6.35 and a 200-day simple moving average of $8.66.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc. is a commercial-stage biotechnology company specializing in the development and commercialization of cell therapies employing autologous tumor infiltrating lymphocytes to treat various solid tumor cancers, including metastatic melanoma in the United States. Among its key offerings are Amtagvi, an autologous T cell immunotherapy targeting adult patients with unresectable or metastatic melanoma, and Proleukin, an interleukin-2 product utilized for patients with metastatic renal cell carcinoma.

Iovance, Investment, Retirement