Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Acquired by Swiss National Bank

Swiss National Bank increased its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 9.3% 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 417,856 shares of the biotechnology company’s stock after acquiring an additional 35,500 shares during the period. Swiss National Bank owned approximately 0.14% of Iovance Biotherapeutics worth $3,092,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC boosted its stake in shares of Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 1,794 shares during the period. SBI Securities Co. Ltd. purchased a new position in Iovance Biotherapeutics in the fourth quarter worth approximately $36,000. Impact Partnership Wealth LLC acquired a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $83,000. Clear Creek Financial Management LLC purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $91,000. Finally, KBC Group NV raised its holdings in shares of Iovance Biotherapeutics by 105.7% in the 4th quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 6,321 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $3.44 on Thursday. The firm’s fifty day simple moving average is $4.98 and its 200-day simple moving average is $7.63. Iovance Biotherapeutics, Inc. has a 12 month low of $3.33 and a 12 month high of $15.18. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -2.31 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) 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 company had revenue of $73.69 million for the quarter, compared to analyst estimates of $72.17 million. Analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Analyst Ratings Changes

IOVA has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note 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 report on Monday, March 3rd. Chardan Capital lowered their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Truist Financial cut their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Robert W. Baird lowered their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. One investment 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 MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

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.