Vanguard Group Inc. Raises Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Vanguard Group Inc. lifted its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,534,340 shares of the biotechnology company’s stock after buying an additional 220,373 shares during the quarter. Vanguard Group Inc. owned 9.03% of Iovance Biotherapeutics worth $203,754,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. AlphaQuest LLC increased its holdings in Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $36,000. Impact Partnership Wealth LLC purchased a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $83,000. Kazazian Asset Management LLC acquired a new position in Iovance Biotherapeutics during the fourth quarter worth $84,000. Finally, Clear Creek Financial Management LLC purchased a new stake in Iovance Biotherapeutics during the fourth quarter worth $91,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

Shares of IOVA opened at $3.00 on Friday. Iovance Biotherapeutics, Inc. has a 12 month low of $2.95 and a 12 month high of $14.23. The stock’s 50-day moving average is $4.61 and its two-hundred day moving average is $7.31. The stock has a market cap of $983.63 million, a PE ratio of -2.01 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.26). The company had revenue of $73.69 million for the quarter, compared to analyst estimates of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. On average, research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on IOVA shares. Robert W. Baird cut their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group cut their price objective on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Chardan Capital cut their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Piper Sandler reduced their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

About Iovance Biotherapeutics

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.