Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 53.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,281 shares of the biotechnology company’s stock after selling 60,443 shares during the quarter. BNP Paribas Financial Markets’ holdings in Iovance Biotherapeutics were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. AlphaQuest LLC raised its stake 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 during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at about $36,000. One68 Global Capital LLC purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $74,000. Quarry LP purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $74,000. Finally, Integrity Wealth Advisors Inc. acquired a new stake in Iovance Biotherapeutics in the 4th quarter worth approximately $77,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of IOVA opened at $1.78 on Monday. The business’s 50-day moving average is $2.97 and its two-hundred day moving average is $5.40. The company has a market capitalization of $594.40 million, a P/E ratio of -1.19 and a beta of 1.06. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). The company had revenue of $49.32 million during the quarter, compared to analysts’ expectations of $83.40 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm’s quarterly revenue was up 6795.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.42) EPS. Analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on IOVA shares. UBS Group lowered shares of Iovance Biotherapeutics from a “buy” rating to a “neutral” rating and cut their price target for the company from $17.00 to $2.00 in a research note on Friday, May 16th. HC Wainwright dropped their price objective on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Mizuho reduced their target price on Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating for the company in a research note on Monday, May 12th. Chardan Capital lowered their price target on Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Finally, Robert W. Baird cut their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.30.

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.