Cathie Wood’s ARK Portfolio: Top 5 Losers

4. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Number of Hedge Fund Holders: 33 

52-Week High: $54.21

Real-Time Share Price as of December 7: $19.02

Percentage Loss in Share Price Year-to-Date: 58.77%   

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a clinical-stage biotech firm focusing on developing therapies for cancer patients. ARK Investment Management owned 18 million shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) at the end of September 2021 worth $480 million, representing 0.89% of the portfolio of the fund. 

Oppenheimer analyst Mark Breidenbach recently lowered the price target on Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) stock to $31 from $38 but kept an Outperform rating, noting concerns around response rate and durability in non-small cell cancer. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Perceptive Advisors is a leading shareholder in Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) with 11.4 million shares worth more than $283 million.