Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stake Lifted by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. increased its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 48.7% in the 4th quarter, HoldingsChannel reports. The fund owned 130,287 shares of the biotechnology company’s stock after acquiring an additional 42,692 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Iovance Biotherapeutics were worth $1,059,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IOVA. Envestnet Asset Management Inc. boosted its holdings in shares of Iovance Biotherapeutics by 17.6% in the first quarter. Envestnet Asset Management Inc. now owns 14,017 shares of the biotechnology company’s stock valued at $233,000 after acquiring an additional 2,099 shares in the last quarter. Rice Hall James & Associates LLC boosted its holdings in shares of Iovance Biotherapeutics by 71.8% in the first quarter. Rice Hall James & Associates LLC now owns 1,085,121 shares of the biotechnology company’s stock valued at $18,067,000 after acquiring an additional 453,337 shares in the last quarter. Raymond James & Associates boosted its holdings in Iovance Biotherapeutics by 53.3% during the first quarter. Raymond James & Associates now owns 15,386 shares of the biotechnology company’s stock worth $256,000 after buying an additional 5,350 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Iovance Biotherapeutics by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 1,772,007 shares of the biotechnology company’s stock worth $29,504,000 after buying an additional 104,913 shares in the last quarter. Finally, AlphaCrest Capital Management LLC boosted its holdings in Iovance Biotherapeutics by 11.7% during the first quarter. AlphaCrest Capital Management LLC now owns 17,538 shares of the biotechnology company’s stock worth $292,000 after buying an additional 1,838 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Merrill A. Mcpeak bought 250,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of $9.15 per share, for a total transaction of $2,287,500.00. Following the transaction, the director now directly owns 320,150 shares in the company, valued at $2,929,372.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 10.40% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA opened at $12.36 on Monday. The company has a market cap of $3.45 billion, a PE ratio of -6.57 and a beta of 0.62. Iovance Biotherapeutics, Inc. has a 52 week low of $3.21 and a 52 week high of $18.33. The firm has a 50 day simple moving average of $13.54 and a 200 day simple moving average of $8.71.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.01). The business had revenue of $0.48 million for the quarter, compared to the consensus estimate of $1.44 million. During the same period last year, the firm posted ($0.64) EPS. On average, equities analysts predict that Iovance Biotherapeutics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Thursday, February 29th. Chardan Capital raised their target price on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Truist Financial restated a “buy” rating and set a $17.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, December 27th. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a report on Friday, February 2nd. Finally, Piper Sandler raised their target price on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. According to MarketBeat, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $24.64.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.