Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,812,820 shares of the biotechnology company’s stock after acquiring an additional 669,350 shares during the period. Vanguard Group Inc. owned approximately 8.17% of Iovance Biotherapeutics worth $185,468,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its position in Iovance Biotherapeutics by 1,227.8% in the 4th quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 4,678 shares in the last quarter. Annandale Capital LLC purchased a new position in Iovance Biotherapeutics in the third quarter worth approximately $32,000. Nisa Investment Advisors LLC grew its holdings in Iovance Biotherapeutics by 284.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 5,577 shares in the last quarter. Signaturefd LLC increased its position in shares of Iovance Biotherapeutics by 256.6% in the 4th quarter. Signaturefd LLC now owns 8,723 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 6,277 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at $89,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IOVA has been the topic of several recent analyst reports. Piper Sandler increased their target price on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, June 28th. Finally, JMP Securities decreased their target price on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.45.

Iovance Biotherapeutics Price Performance

IOVA stock opened at $7.73 on Wednesday. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -4.29 and a beta of 0.63. The company has a fifty day moving average price of $9.87 and a 200 day moving average price of $10.85. Iovance Biotherapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.03. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $1.99 million. During the same period in the prior year, the company earned ($0.50) earnings per share. The business’s revenue was up 71400.0% compared to the same quarter last year. As a group, analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.34 earnings per share for the current year.

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.