Steward Partners Investment Advisory LLC Buys 8,482 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Steward Partners Investment Advisory LLC boosted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 83.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,679 shares of the biotechnology company’s stock after purchasing an additional 8,482 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Iovance Biotherapeutics were worth $138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at about $12,927,000. Principal Financial Group Inc. boosted its stake in Iovance Biotherapeutics by 59.0% in 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 acquiring an additional 1,496,941 shares in the last quarter. State Street Corp boosted its stake in Iovance Biotherapeutics by 4.6% in the third quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock valued at $123,967,000 after acquiring an additional 576,801 shares in the last quarter. Barclays PLC boosted its stake in Iovance Biotherapeutics by 118.8% in the third 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 in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Iovance Biotherapeutics by 399.4% in the third quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock valued at $1,355,000 after acquiring an additional 115,387 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $3.59 on Monday. The company has a market cap of $1.18 billion, a P/E ratio of -2.41 and a beta of 0.93. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.48 and a fifty-two week high of $15.90. The firm has a 50-day simple moving average of $5.47 and a two-hundred day simple moving average of $8.02.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on IOVA shares. Chardan Capital reduced their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Robert W. Baird decreased their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report 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 for the company in a research note on Monday, March 3rd. Truist Financial cut their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Iovance Biotherapeutics 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.