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

Swiss National Bank raised its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 9.3% in the 4th quarter, Holdings Channel reports. The fund owned 417,856 shares of the biotechnology company’s stock after acquiring an additional 35,500 shares during the period. Swiss National Bank’s holdings in Iovance Biotherapeutics were worth $3,092,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in IOVA. HighTower Advisors LLC lifted its position in Iovance Biotherapeutics by 3.9% in the fourth quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company’s stock valued at $586,000 after purchasing an additional 2,951 shares during the period. Avantax Planning Partners Inc. acquired a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $170,000. AlphaQuest LLC boosted its stake in shares of Iovance Biotherapeutics by 63.6% in the fourth 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 in the last quarter. CM Management LLC grew its holdings in Iovance Biotherapeutics by 20.0% during the fourth quarter. CM Management LLC now owns 300,000 shares of the biotechnology company’s stock worth $2,220,000 after acquiring an additional 50,000 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Iovance Biotherapeutics in the fourth quarter worth $11,568,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IOVA shares. Piper Sandler lowered their price target 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. 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. 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 lowered their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, The Goldman Sachs Group reduced 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics Stock Performance

IOVA stock opened at $3.44 on Thursday. The stock’s 50 day moving average price is $4.98 and its 200 day moving average price is $7.63. The firm has a market cap of $1.13 billion, a P/E ratio of -2.31 and a beta of 0.93. Iovance Biotherapeutics, Inc. has a 1 year low of $3.33 and a 1 year high of $15.18.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). The business had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. On average, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share 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.