Charles Schwab Investment Management Inc. Increases Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Charles Schwab Investment Management Inc. lifted its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 4.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,989,340 shares of the biotechnology company’s stock after purchasing an additional 76,196 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.65% of Iovance Biotherapeutics worth $14,721,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its position in Iovance Biotherapeutics by 83.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 18,679 shares of the biotechnology company’s stock worth $138,000 after buying an additional 8,482 shares during the last quarter. Grandfield & Dodd LLC raised its position in Iovance Biotherapeutics by 85.3% during the 4th quarter. Grandfield & Dodd LLC now owns 55,715 shares of the biotechnology company’s stock worth $412,000 after buying an additional 25,645 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $36,000. Proficio Capital Partners LLC purchased a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $225,000. Finally, Bank of New York Mellon Corp raised its position in Iovance Biotherapeutics by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 865,834 shares of the biotechnology company’s stock worth $6,407,000 after buying an additional 23,865 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IOVA. Chardan Capital reduced their price target on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Truist Financial reduced their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Robert W. Baird dropped their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group dropped their price objective on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics Stock Performance

Iovance Biotherapeutics stock opened at $3.54 on Friday. The company’s fifty day moving average price is $5.18 and its 200 day moving average price is $7.85. Iovance Biotherapeutics, Inc. has a 1 year low of $3.48 and a 1 year high of $15.90. The stock has a market capitalization of $1.16 billion, a P/E ratio of -2.38 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $72.17 million. Sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

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.