Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stake Lifted by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 0.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 27,534,340 shares of the biotechnology company’s stock after buying an additional 220,373 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of Iovance Biotherapeutics worth $203,754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 valued at $34,000 after purchasing an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Iovance Biotherapeutics in the 4th quarter worth about $36,000. Impact Partnership Wealth LLC acquired a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $83,000. Kazazian Asset Management LLC bought a new stake in shares of Iovance Biotherapeutics during the fourth quarter valued at approximately $84,000. Finally, Clear Creek Financial Management LLC acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter worth approximately $91,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Down 7.7 %

IOVA opened at $3.00 on Friday. The stock has a market capitalization of $983.63 million, a price-to-earnings ratio of -2.01 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a 1-year low of $2.95 and a 1-year high of $14.23. The business has a 50 day moving average of $4.61 and a 200-day moving average of $7.31.

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

Analyst Upgrades and Downgrades

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

Iovance Biotherapeutics Company 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.