JPMorgan Chase & Co. Has $9.67 Million Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

JPMorgan Chase & Co. lessened its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 29.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,306,826 shares of the biotechnology company’s stock after selling 536,106 shares during the quarter. JPMorgan Chase & Co.’s holdings in Iovance Biotherapeutics were worth $9,671,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC increased its stake in shares of Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 1,794 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in Iovance Biotherapeutics by 10.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 1,950 shares in the last quarter. HighTower Advisors LLC increased its position in Iovance Biotherapeutics by 3.9% in the 4th quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company’s stock worth $586,000 after purchasing an additional 2,951 shares during the last quarter. Xponance Inc. raised its stake in shares of Iovance Biotherapeutics by 18.5% during the 4th quarter. Xponance Inc. now owns 19,607 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 3,066 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Iovance Biotherapeutics by 16.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,684 shares of the biotechnology company’s stock valued at $227,000 after buying an additional 4,192 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 3.3 %

IOVA 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 of $4.15 and a 200-day moving average of $6.94. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -2.29 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

IOVA has been the topic of a number of research reports. Barclays dropped their price objective on Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating on the stock in a report on Monday. Robert W. Baird cut their price target on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. The Goldman Sachs Group lowered their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, Truist Financial decreased their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.56.

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.