Commonwealth Equity Services LLC Purchases 16,113 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Commonwealth Equity Services LLC boosted its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 104.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 31,514 shares of the biotechnology company’s stock after buying an additional 16,113 shares during the period. Commonwealth Equity Services LLC’s holdings in Iovance Biotherapeutics were worth $233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp increased its stake in Iovance Biotherapeutics by 4.6% in the third quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock valued at $123,967,000 after acquiring an additional 576,801 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of 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 purchasing an additional 1,496,941 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Iovance Biotherapeutics by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,989,340 shares of the biotechnology company’s stock valued at $14,721,000 after buying an additional 76,196 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Iovance Biotherapeutics in the 4th quarter worth approximately $12,927,000. Finally, Raymond James Financial Inc. purchased a new stake in Iovance Biotherapeutics in the fourth quarter worth approximately $11,568,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on IOVA shares. Truist Financial decreased their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Piper Sandler lowered their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note 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 report on Friday, February 28th. Chardan Capital decreased their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $3.27 on Thursday. The stock’s 50-day moving average is $4.31 and its 200 day moving average is $7.09. The company has a market cap of $1.07 billion, a PE ratio of -2.19 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a 1 year low of $2.70 and a 1 year high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). The company had revenue of $73.69 million during 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%. Analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

About Iovance Biotherapeutics

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.