Prudential Financial Inc. Has $235,000 Stock Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Prudential Financial Inc. lifted its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 83.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,700 shares of the biotechnology company’s stock after buying an additional 14,452 shares during the period. Prudential Financial Inc.’s holdings in Iovance Biotherapeutics were worth $235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Iovance Biotherapeutics by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company’s stock worth $203,754,000 after acquiring an additional 220,373 shares in the last quarter. State Street Corp increased its position in shares of Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock worth $123,967,000 after purchasing an additional 576,801 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Iovance Biotherapeutics by 59.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after purchasing an additional 1,496,941 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Iovance Biotherapeutics by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,989,340 shares of the biotechnology company’s stock valued at $14,721,000 after purchasing an additional 76,196 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Iovance Biotherapeutics in the fourth quarter valued at about $12,927,000. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Down 6.4 %

Shares of IOVA opened at $3.06 on Friday. The stock’s fifty day simple moving average is $4.25 and its 200-day simple moving average is $7.04. The firm has a market capitalization of $1.00 billion, a PE ratio of -2.05 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a 12-month low of $2.70 and a 12-month high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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. Analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. The Goldman Sachs Group cut their price objective on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Piper Sandler reduced their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Robert W. Baird lowered their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Finally, Truist Financial reduced their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 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 given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

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.