California State Teachers Retirement System Raises Stock Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

California State Teachers Retirement System increased its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 203,241 shares of the biotechnology company’s stock after acquiring an additional 13,774 shares during the quarter. California State Teachers Retirement System owned approximately 0.06% of Iovance Biotherapeutics worth $1,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of IOVA. AlphaQuest LLC raised its stake in shares of Iovance Biotherapeutics by 63.6% during 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 during the period. SBI Securities Co. Ltd. purchased a new stake in Iovance Biotherapeutics during the fourth quarter worth about $36,000. GF Fund Management CO. LTD. bought a new stake in Iovance Biotherapeutics in the fourth quarter worth about $47,000. One68 Global Capital LLC purchased a new position in Iovance Biotherapeutics in the fourth quarter valued at about $74,000. Finally, Quarry LP bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at approximately $74,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of IOVA opened at $2.05 on Monday. Iovance Biotherapeutics, Inc. has a 52-week low of $1.64 and a 52-week high of $12.51. The stock’s 50-day simple moving average is $2.64 and its 200 day simple moving average is $4.90. The stock has a market capitalization of $684.56 million, a price-to-earnings ratio of -1.38 and a beta of 0.86.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. During the same quarter in the prior year, the company earned ($0.42) earnings per share. The company’s quarterly revenue was up 6795.1% on a year-over-year basis. On average, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IOVA has been the topic of a number of research reports. Citizens Jmp cut shares of Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a report on Friday, May 9th. Robert W. Baird decreased their target price 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. JMP Securities restated a “market perform” rating on shares of Iovance Biotherapeutics in a research note on Friday, May 9th. Barclays cut their price target on Iovance Biotherapeutics from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Monday, May 12th. Finally, Mizuho lowered their price objective on Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating on the stock in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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.