HighTower Advisors LLC Acquires 2,951 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

HighTower Advisors LLC lifted its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 3.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,238 shares of the biotechnology company’s stock after acquiring an additional 2,951 shares during the quarter. HighTower Advisors LLC’s holdings in Iovance Biotherapeutics were worth $586,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IOVA. AlphaQuest LLC boosted its position in Iovance Biotherapeutics by 63.6% during 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. bought a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth about $36,000. Impact Partnership Wealth LLC acquired a new position in Iovance Biotherapeutics in the 4th quarter valued at about $83,000. Clear Creek Financial Management LLC bought a new position in Iovance Biotherapeutics in the 4th quarter valued at about $91,000. Finally, KBC Group NV lifted its position in Iovance Biotherapeutics by 105.7% during the fourth quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 6,321 shares during the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Piper Sandler decreased their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Truist Financial decreased their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group dropped their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Robert W. Baird reduced their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Finally, Chardan Capital lowered their price target on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics Stock Performance

IOVA opened at $3.56 on Friday. The firm has a market cap of $1.17 billion, a P/E ratio of -2.39 and a beta of 0.93. The business’s fifty day moving average is $4.89 and its 200-day moving average is $7.54. Iovance Biotherapeutics, Inc. has a 52-week low of $3.33 and a 52-week high of $14.77.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.26). The firm had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. On average, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

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.