Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stock Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 865,834 shares of the biotechnology company’s stock after acquiring an additional 23,865 shares during the quarter. Bank of New York Mellon Corp owned about 0.28% of Iovance Biotherapeutics worth $6,407,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in IOVA. State Street Corp lifted its position in shares of Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock worth $123,967,000 after purchasing an additional 576,801 shares during the last quarter. Principal Financial Group Inc. raised its holdings in 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 valued at $37,872,000 after acquiring an additional 1,496,941 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $12,927,000. Barclays PLC raised its holdings in shares of Iovance Biotherapeutics by 118.8% in the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock worth $5,677,000 after buying an additional 328,284 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Iovance Biotherapeutics by 9.0% in the 4th quarter. Rhumbline Advisers now owns 385,770 shares of the biotechnology company’s stock worth $2,855,000 after buying an additional 31,699 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Up 2.0 %

Shares of NASDAQ:IOVA opened at $3.59 on Monday. Iovance Biotherapeutics, Inc. has a 12-month low of $3.48 and a 12-month high of $15.90. The stock has a market cap of $1.18 billion, a PE ratio of -2.41 and a beta of 0.93. The business has a 50 day moving average of $5.47 and a 200-day moving average of $8.02.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $72.17 million. Equities research analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IOVA shares. Robert W. Baird decreased 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. Piper Sandler reduced their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group dropped their price objective on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Chardan Capital dropped their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, Truist Financial decreased their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.25.

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.