Geode Capital Management LLC Raises Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Geode Capital Management LLC lifted its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,871,420 shares of the biotechnology company’s stock after purchasing an additional 222,425 shares during the quarter. Geode Capital Management LLC owned about 1.93% of Iovance Biotherapeutics worth $43,458,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted 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 buying an additional 220,373 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after acquiring an additional 1,496,941 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 worth $14,721,000 after purchasing an additional 76,196 shares during the period. Assenagon Asset Management S.A. bought a new position in Iovance Biotherapeutics during the 4th quarter valued at about $12,927,000. Finally, Raymond James Financial Inc. purchased a new stake in Iovance Biotherapeutics in the 4th quarter worth about $11,568,000. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

IOVA stock opened at $3.41 on Tuesday. Iovance Biotherapeutics, Inc. has a 1-year low of $2.70 and a 1-year high of $14.23. The business has a 50-day moving average price of $4.15 and a 200 day moving average price of $6.94. The company has a market capitalization of $1.12 billion, a P/E ratio of -2.29 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) 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 business had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. On average, analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on IOVA. Chardan Capital dropped their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Robert W. Baird reduced their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Truist Financial lowered their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Barclays cut their price target on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.56.

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.