25,700 Shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Purchased by Cibc World Markets Corp

Cibc World Markets Corp bought 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 Securities and Exchange Commission. The fund bought 25,700 shares of the biotechnology company’s stock, valued at approximately $190,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Iovance Biotherapeutics during the fourth quarter valued at approximately $515,000. Jennison Associates LLC bought a new position in Iovance Biotherapeutics in the 4th quarter valued at $493,000. Barclays PLC grew its position in shares of Iovance Biotherapeutics by 118.8% during the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock valued at $5,677,000 after purchasing an additional 328,284 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of 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 worth $37,872,000 after purchasing an additional 1,496,941 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Iovance Biotherapeutics in the third quarter worth $920,000. 77.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IOVA has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. The Goldman Sachs Group cut their price objective on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Piper Sandler dropped 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 report on Friday, February 28th. Robert W. Baird cut their price target 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, Truist Financial dropped their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.25.

Iovance Biotherapeutics Trading Down 1.1 %

IOVA opened at $3.44 on Thursday. The company has a market cap of $1.13 billion, a P/E ratio of -2.31 and a beta of 0.93. The business’s 50-day moving average price is $4.98 and its 200-day moving average price is $7.63. Iovance Biotherapeutics, Inc. has a 12 month low of $3.33 and a 12 month high of $15.18.

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