Should You Hold Iovance Biotherapeutics (IOVA)?

Aristotle Atlantic Partners, LLC, an investment advisor, released its “Focus Growth Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, Aristotle Atlantic’s Focus Growth strategy posted a return of 2.66% net of fees compared to a 2.20% return for the Russell 1000 Growth Index. Stock selection and allocation led the strategy to outperform in the quarter relative to its benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Aristotle Atlantic Focus Growth Strategy highlighted stocks like Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the fourth quarter 2022 investor letter. Headquartered in San Carlos, California, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a clinical-stage biotechnology company. On April 5, 2023, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) stock closed at $5.87 per share. One-month return of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was -15.42%, and its shares lost 65.35% of their value over the last 52 weeks. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has a market capitalization of $1.327 billion.

Aristotle Atlantic Focus Growth Strategy made the following comment about Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in its Q4 2022 investor letter:

“Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) shares were weak in the quarter due to the company’s announcement that they were delaying the completion of their Biologics Licensing Application filing from the end of the fourth quarter of 2022 to the end of the first quarter of 2023.”

Laboratory, Medicine, Health

Photo by National Cancer Institute on Unsplash

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) at the end of the fourth quarter which was 39 in the previous quarter.

We discussed Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in another article and shared the list of best biotechnology stocks to buy under $20. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.