Pier 88 Investment Partners LLC Makes New Investment in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Pier 88 Investment Partners LLC purchased a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVAFree Report) during the 4th quarter, HoldingsChannel reports. The firm purchased 27,290 shares of the biotechnology company’s stock, valued at approximately $222,000.

A number of other hedge funds have also modified their holdings of IOVA. Kennedy Capital Management LLC lifted its position in Iovance Biotherapeutics by 52.3% during the third quarter. Kennedy Capital Management LLC now owns 344,042 shares of the biotechnology company’s stock valued at $1,565,000 after purchasing an additional 118,133 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 41.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,643,155 shares of the biotechnology company’s stock valued at $12,026,000 after buying an additional 772,905 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Iovance Biotherapeutics by 48.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 130,287 shares of the biotechnology company’s stock worth $1,059,000 after buying an additional 42,692 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Iovance Biotherapeutics by 13.8% during the third quarter. Artisan Partners Limited Partnership now owns 5,036,479 shares of the biotechnology company’s stock valued at $22,916,000 after acquiring an additional 609,738 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Iovance Biotherapeutics by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,143,470 shares of the biotechnology company’s stock valued at $100,753,000 after purchasing an additional 1,748,082 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Down 2.4 %

Shares of Iovance Biotherapeutics stock traded down $0.25 during trading hours on Friday, reaching $10.01. 6,517,044 shares of the company’s stock were exchanged, compared to its average volume of 5,755,937. The business has a fifty day moving average of $12.57 and a two-hundred day moving average of $10.30. The company has a market capitalization of $2.80 billion, a P/E ratio of -5.56 and a beta of 0.66. Iovance Biotherapeutics, Inc. has a 1 year low of $3.21 and a 1 year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVAGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. The firm had revenue of $0.72 million for the quarter, compared to analyst estimates of $1.99 million. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. Iovance Biotherapeutics’s quarterly revenue was up 71400.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.50) earnings per share. As a group, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, February 29th. JMP Securities upped their price target on Iovance Biotherapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 20th. Wells Fargo & Company increased their price target on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Piper Sandler boosted their price objective on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Finally, Barclays increased their target price on Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $24.64.

View Our Latest Analysis on IOVA

Iovance Biotherapeutics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Iovance Biotherapeutics (NASDAQ:IOVA)

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