Northern Trust Corp Acquires 166,231 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Northern Trust Corp raised its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 7.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,414,807 shares of the biotechnology company’s stock after acquiring an additional 166,231 shares during the period. Northern Trust Corp’s holdings in Iovance Biotherapeutics were worth $17,870,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Barclays PLC grew its position in shares of Iovance Biotherapeutics by 118.8% during the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock valued at $5,677,000 after acquiring an additional 328,284 shares during the period. Franklin Resources Inc. lifted its position in Iovance Biotherapeutics by 9.2% during the third quarter. Franklin Resources Inc. now owns 100,229 shares of the biotechnology company’s stock valued at $979,000 after purchasing an additional 8,470 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after purchasing an additional 1,496,941 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Iovance Biotherapeutics in the fourth quarter worth about $12,927,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at about $150,000. 77.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IOVA. Mizuho reduced their target price on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating for the company in a report on Monday. HC Wainwright reduced their price objective on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Barclays lowered their target price on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an “overweight” rating on the stock in a research note on Monday. Truist Financial lowered Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Chardan Capital lowered their price objective on Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.80.

Iovance Biotherapeutics Trading Down 7.3%

Shares of IOVA stock opened at $1.79 on Wednesday. The stock has a market capitalization of $597.74 million, a price-to-earnings ratio of -1.20 and a beta of 1.06. Iovance Biotherapeutics, Inc. has a 12-month low of $1.65 and a 12-month high of $12.51. The stock’s 50-day moving average price is $3.28 and its 200-day moving average price is $5.98.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.11). The firm had revenue of $49.32 million for the quarter, compared to analysts’ expectations of $83.40 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The business’s quarterly revenue was up 6795.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.42) EPS. As a group, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS 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.