Nuveen Asset Management LLC Raises Stock Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Nuveen Asset Management LLC lifted its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 27.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,683,208 shares of the biotechnology company’s stock after purchasing an additional 361,086 shares during the quarter. Nuveen Asset Management LLC owned 0.55% of Iovance Biotherapeutics worth $12,456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of IOVA. AlphaQuest LLC lifted its position 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 buying an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Iovance Biotherapeutics in the 4th quarter worth approximately $36,000. One68 Global Capital LLC bought a new stake in Iovance Biotherapeutics in the 4th quarter worth approximately $74,000. Quarry LP bought a new stake in Iovance Biotherapeutics in the 4th quarter worth approximately $74,000. Finally, Fullcircle Wealth LLC bought a new stake in Iovance Biotherapeutics in the 4th quarter worth approximately $74,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Up 1.7%

Shares of Iovance Biotherapeutics stock opened at $1.78 on Tuesday. The company has a market cap of $594.40 million, a PE ratio of -1.19 and a beta of 1.06. The business has a 50 day moving average of $2.94 and a 200 day moving average of $5.34. Iovance Biotherapeutics, Inc. has a 52 week low of $1.64 and a 52 week high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced 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 business had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. Iovance Biotherapeutics’s revenue was up 6795.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.42) EPS. On average, research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IOVA. Piper Sandler dropped 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. Mizuho dropped their target price on Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating for the company in a research report on Monday, May 12th. HC Wainwright dropped their target price on Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Baird R W downgraded Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Finally, Truist Financial downgraded Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.30.

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.