Xponance Inc. Purchases 3,066 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Xponance Inc. grew its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 18.5% during the fourth quarter, HoldingsChannel reports. The firm owned 19,607 shares of the biotechnology company’s stock after buying an additional 3,066 shares during the period. Xponance Inc.’s holdings in Iovance Biotherapeutics were worth $145,000 at the end of the most recent quarter.

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

Iovance Biotherapeutics Trading Down 1.9 %

IOVA stock opened at $3.56 on Friday. The stock has a market cap of $1.17 billion, a P/E ratio of -2.39 and a beta of 0.93. The stock’s fifty day simple moving average is $4.89 and its two-hundred day simple moving average is $7.54. Iovance Biotherapeutics, Inc. has a 1-year low of $3.33 and a 1-year high of $14.77.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its 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). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. As a group, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

IOVA has been the subject of several research reports. Chardan Capital reduced their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Robert W. Baird decreased their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. The Goldman Sachs Group decreased their price target on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Truist Financial decreased their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.