Haven Capital Group Inc. Invests $921,000 in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Haven Capital Group Inc. bought a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 124,449 shares of the biotechnology company's stock, valued at approximately $921,000. Iovance Biotherapeutics makes up about 0.9% of Haven Capital Group Inc.'s portfolio, making the stock its 22nd biggest position.

Other hedge funds also recently made changes to their positions in the company. Cibc World Markets Corp acquired a new position in Iovance Biotherapeutics during the 4th quarter valued at approximately $190,000. Commonwealth Equity Services LLC boosted its position in Iovance Biotherapeutics by 104.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 31,514 shares of the biotechnology company's stock valued at $233,000 after purchasing an additional 16,113 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in Iovance Biotherapeutics by 36.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 155,684 shares of the biotechnology company's stock valued at $1,115,000 after purchasing an additional 41,732 shares during the period. Swiss National Bank boosted its position in Iovance Biotherapeutics by 9.3% during the 4th quarter. Swiss National Bank now owns 417,856 shares of the biotechnology company's stock valued at $3,092,000 after purchasing an additional 35,500 shares during the period. Finally, HighTower Advisors LLC boosted its position in Iovance Biotherapeutics by 3.9% during the 4th 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. Institutional investors and hedge funds own 77.03% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IOVA shares. Truist Financial reduced their price objective 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 reduced their price target on Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. HC Wainwright reiterated a "buy" rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Piper Sandler reduced their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a research report on Friday, February 28th. Finally, Robert W. Baird reduced their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

Iovance Biotherapeutics Price Performance

Shares of IOVA remained flat at $3.54 during midday trading on Friday. The stock had a trading volume of 7,548,767 shares, compared to its average volume of 6,958,916. Iovance Biotherapeutics, Inc. has a 12 month low of $3.42 and a 12 month high of $15.50. The firm has a 50 day moving average of $5.12 and a 200 day moving average of $7.79. The firm has a market cap of $1.16 billion, a P/E ratio of -2.38 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts' consensus estimates of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The company had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. Sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current 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.