Commonwealth Equity Services LLC Buys 16,113 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Commonwealth Equity Services LLC increased its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 104.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,514 shares of the biotechnology company’s stock after acquiring an additional 16,113 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Iovance Biotherapeutics were worth $233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Iovance Biotherapeutics by 36.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 155,684 shares of the biotechnology company’s stock valued at $1,115,000 after purchasing an additional 41,732 shares during the period. Swiss National Bank grew its stake in Iovance Biotherapeutics by 9.3% in the fourth quarter. Swiss National Bank now owns 417,856 shares of the biotechnology company’s stock valued at $3,092,000 after acquiring an additional 35,500 shares during the period. HighTower Advisors LLC increased its holdings in shares of Iovance Biotherapeutics by 3.9% during the fourth quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company’s stock valued at $586,000 after acquiring an additional 2,951 shares in the last quarter. Avantax Planning Partners Inc. acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter worth approximately $170,000. Finally, AlphaQuest LLC lifted its holdings in shares of Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 1,794 shares in the last quarter. 77.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Iovance Biotherapeutics Stock Performance

NASDAQ IOVA opened at $3.27 on Thursday. The company has a market capitalization of $1.07 billion, a PE ratio of -2.19 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a 52-week low of $2.70 and a 52-week high of $14.23. The company has a 50-day simple moving average of $4.31 and a 200 day simple moving average of $7.09.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. As a group, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

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.