Proficio Capital Partners LLC Makes New $225,000 Investment in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Proficio Capital Partners LLC purchased a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 30,429 shares of the biotechnology company’s stock, valued at approximately $225,000.

Other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Iovance Biotherapeutics in the fourth quarter valued at approximately $36,000. Impact Partnership Wealth LLC acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $83,000. Clear Creek Financial Management LLC purchased a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at $91,000. KBC Group NV increased its holdings in shares of Iovance Biotherapeutics by 105.7% during the 4th quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock worth $91,000 after buying an additional 6,321 shares during the last quarter. Finally, DRW Securities LLC purchased a new position in shares of Iovance Biotherapeutics in the 3rd quarter worth $121,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Up 5.5 %

IOVA opened at $3.63 on Friday. The firm has a market capitalization of $1.19 billion, a P/E ratio of -2.44 and a beta of 0.93. The firm’s 50 day moving average is $4.94 and its 200-day moving average is $7.60. Iovance Biotherapeutics, Inc. has a 52-week low of $3.33 and a 52-week high of $15.18.

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, hitting the consensus estimate of ($0.26). The firm had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. Equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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