SBI Securities Co. Ltd. Acquires New Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

SBI Securities Co. Ltd. bought a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,930 shares of the biotechnology company’s stock, valued at approximately $36,000.

Several other hedge funds have also made changes to their positions in IOVA. 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 buying an additional 1,496,941 shares during the period. Assetmark Inc. lifted its holdings in shares of Iovance Biotherapeutics by 48.0% in the 3rd quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company’s stock worth $121,000 after buying an additional 4,167 shares during the period. XML Financial LLC lifted its holdings in shares of Iovance Biotherapeutics by 7.4% in the 3rd quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock worth $136,000 after buying an additional 1,000 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Iovance Biotherapeutics by 156.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 61,759 shares of the biotechnology company’s stock worth $580,000 after buying an additional 37,635 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Iovance Biotherapeutics in the 3rd quarter worth $242,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Truist Financial lowered their target price on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Robert W. Baird lowered their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Chardan Capital reduced their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Piper Sandler cut their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $3.90 on Wednesday. Iovance Biotherapeutics, Inc. has a 1-year low of $3.58 and a 1-year high of $15.90. The stock has a market cap of $1.28 billion, a PE ratio of -2.62 and a beta of 0.93. The stock’s fifty day moving average is $5.78 and its two-hundred day moving average is $8.24.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The company had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. On average, research analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share 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.