Wells Fargo & Company MN Has $4.29 Million Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Wells Fargo & Company MN boosted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 580,245 shares of the biotechnology company’s stock after purchasing an additional 4,401 shares during the quarter. Wells Fargo & Company MN owned 0.19% of Iovance Biotherapeutics worth $4,294,000 at the end of the most recent quarter.

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

Iovance Biotherapeutics Stock Up 0.7 %

Shares of IOVA opened at $3.08 on Tuesday. The stock’s fifty day simple moving average is $3.91 and its 200-day simple moving average is $6.71. The firm has a market capitalization of $1.01 billion, a PE ratio of -2.07 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a 12-month low of $2.70 and a 12-month high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting 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 company had revenue of $73.69 million during the quarter, compared to analysts’ expectations of $72.17 million. Analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IOVA. Piper Sandler cut their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Barclays cut their price objective on Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Chardan Capital lowered their target price 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. The Goldman Sachs Group dropped their target price on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Truist Financial reduced their price target 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.22.

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.