Bailard Inc. Buys Shares of 12,700 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Bailard Inc. purchased a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the fourth quarter, HoldingsChannel reports. The firm purchased 12,700 shares of the biotechnology company’s stock, valued at approximately $103,000.

A number of other hedge funds have also modified their holdings of the company. Kennedy Capital Management LLC boosted its position in shares of Iovance Biotherapeutics by 52.3% during the third quarter. Kennedy Capital Management LLC now owns 344,042 shares of the biotechnology company’s stock worth $1,565,000 after purchasing an additional 118,133 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Iovance Biotherapeutics by 41.3% in the third quarter. Principal Financial Group Inc. now owns 2,643,155 shares of the biotechnology company’s stock worth $12,026,000 after acquiring an additional 772,905 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Iovance Biotherapeutics by 48.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 130,287 shares of the biotechnology company’s stock worth $1,059,000 after purchasing an additional 42,692 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Iovance Biotherapeutics by 13.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 5,036,479 shares of the biotechnology company’s stock valued at $22,916,000 after purchasing an additional 609,738 shares in the last quarter. Finally, Mariner LLC increased its stake in Iovance Biotherapeutics by 107.3% during the 3rd quarter. Mariner LLC now owns 371,850 shares of the biotechnology company’s stock worth $1,692,000 after purchasing an additional 192,450 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Merrill A. Mcpeak bought 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average cost of $9.15 per share, for a total transaction of $2,287,500.00. Following the purchase, the director now owns 320,150 shares of the company’s stock, valued at approximately $2,929,372.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.40% of the stock is owned by insiders.

Iovance Biotherapeutics Price Performance

NASDAQ IOVA opened at $12.03 on Tuesday. Iovance Biotherapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $18.33. The stock has a 50 day moving average of $14.08 and a 200-day moving average of $9.24.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.01). The business had revenue of $0.48 million for the quarter, compared to analysts’ expectations of $1.44 million. During the same quarter in the prior year, the business earned ($0.64) earnings per share. As a group, equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

IOVA has been the topic of a number of research reports. Barclays lifted their price target on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Piper Sandler lifted their price target on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Chardan Capital increased their price objective on Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. The Goldman Sachs Group upped their price target on Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, JMP Securities lifted their price objective on shares of Iovance Biotherapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.64.

Iovance Biotherapeutics 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.