Proficio Capital Partners LLC Acquires New Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Proficio Capital Partners LLC acquired a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 30,429 shares of the biotechnology company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IOVA. Principal Financial Group Inc. increased its position in Iovance Biotherapeutics by 59.0% during 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 buying an additional 1,496,941 shares in the last quarter. Assetmark Inc. increased its position in Iovance Biotherapeutics by 48.0% during the 3rd quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company’s stock valued at $121,000 after buying an additional 4,167 shares in the last quarter. XML Financial LLC increased its position in Iovance Biotherapeutics by 7.4% during the 3rd quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 1,000 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Iovance Biotherapeutics by 156.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 61,759 shares of the biotechnology company’s stock valued at $580,000 after buying an additional 37,635 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Iovance Biotherapeutics during the 3rd quarter valued at approximately $242,000. Institutional investors own 77.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on IOVA shares. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. The Goldman Sachs Group cut their target price 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. Piper Sandler cut their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Robert W. Baird cut their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Finally, Truist Financial cut 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Iovance Biotherapeutics Price Performance

IOVA stock opened at $3.90 on Wednesday. The company has a market cap of $1.28 billion, a P/E ratio of -2.62 and a beta of 0.93. Iovance Biotherapeutics, Inc. has a 1 year low of $3.58 and a 1 year high of $15.90. The stock’s fifty day moving average price is $5.78 and its 200-day moving average price is $8.24.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) 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 for the quarter, compared to analysts’ expectations of $72.17 million. As a group, analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

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.