Arizona State Retirement System raised its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Rating) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,395 shares of the biotechnology company’s stock after buying an additional 1,362 shares during the period. Arizona State Retirement System’s holdings in Iovance Biotherapeutics were worth $213,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of IOVA. Royal Bank of Canada increased its holdings in shares of Iovance Biotherapeutics by 54.5% in the third quarter. Royal Bank of Canada now owns 5,066 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 1,787 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Iovance Biotherapeutics by 38.5% in the first quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 934 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Iovance Biotherapeutics in the first quarter valued at $83,000. Quantbot Technologies LP bought a new position in shares of Iovance Biotherapeutics in the first quarter valued at $96,000. Finally, Advisory Services Network LLC purchased a new position in Iovance Biotherapeutics during the 1st quarter worth approximately $107,000. Institutional investors own 96.78% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. Wells Fargo & Company reiterated an “equal weight” rating and set a $11.00 price objective on shares of Iovance Biotherapeutics in a research report on Monday, March 27th. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of Iovance Biotherapeutics in a research report on Wednesday, March 1st. Oppenheimer lowered their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Chardan Capital restated a “buy” rating and set a $29.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, March 1st. Finally, Piper Sandler upgraded shares of Iovance Biotherapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $11.00 to $14.00 in a report on Friday, January 27th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.
Iovance Biotherapeutics Stock Performance
Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.34. During the same quarter last year, the business posted ($0.58) EPS. As a group, equities analysts forecast that Iovance Biotherapeutics, Inc. will post -2.44 earnings per share for the current year.
About Iovance Biotherapeutics
Iovance Biotherapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of cell therapies as novel cancer immunotherapy products. Its lead product candidate, LN-144 for metastatic melanoma, is an autologous adoptive cell therapy utilizing tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients’ tumors.
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