Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 29.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,306,826 shares of the biotechnology company’s stock after selling 536,106 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.43% of Iovance Biotherapeutics worth $9,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in IOVA. AlphaQuest LLC grew its stake in 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 acquiring an additional 1,794 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at $36,000. Impact Partnership Wealth LLC acquired a new position in Iovance Biotherapeutics in the fourth quarter valued at $83,000. Kazazian Asset Management LLC purchased a new position in Iovance Biotherapeutics during the fourth quarter worth about $84,000. Finally, Clear Creek Financial Management LLC acquired a new stake in Iovance Biotherapeutics in the 4th quarter worth about $91,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA opened at $3.41 on Tuesday. Iovance Biotherapeutics, Inc. has a 1 year low of $2.70 and a 1 year high of $14.23. The stock has a fifty day moving average price of $4.15 and a two-hundred day moving average price of $6.94. The firm has a market cap of $1.12 billion, a P/E ratio of -2.29 and a beta of 1.05.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IOVA shares. Truist Financial decreased their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Chardan Capital decreased their price target 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. Robert W. Baird dropped their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Piper Sandler reduced their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Iovance Biotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $18.56.

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.