B Group Inc. Acquires Shares of 992,000 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

B Group Inc. acquired a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 992,000 shares of the biotechnology company's stock, valued at approximately $7,341,000. Iovance Biotherapeutics makes up 4.5% of B Group Inc.'s portfolio, making the stock its 5th largest position. B Group Inc. owned about 0.33% of Iovance Biotherapeutics as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC grew its stake in Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock valued at $34,000 after purchasing an additional 1,794 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter worth about $36,000. Integrity Wealth Advisors Inc. bought a new position in Iovance Biotherapeutics during the fourth quarter valued at about $77,000. Jump Financial LLC purchased a new stake in Iovance Biotherapeutics during the fourth quarter worth about $79,000. Finally, Impact Partnership Wealth LLC bought a new stake in Iovance Biotherapeutics in the fourth quarter worth about $83,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IOVA has been the subject of several research analyst reports. Robert W. Baird decreased 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. The Goldman Sachs Group dropped their price target on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Chardan Capital reduced their price objective on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Truist Financial dropped their target price on Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Iovance Biotherapeutics has an average rating of "Moderate Buy" and a consensus target price of $18.22.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock traded up $0.15 during trading hours on Friday, reaching $3.51. 14,756,313 shares of the company traded hands, compared to its average volume of 7,563,266. The firm has a 50-day moving average price of $3.78 and a 200 day moving average price of $6.62. The company has a market cap of $1.15 billion, a P/E ratio of -2.36 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a 12-month low of $2.70 and a 12-month high of $14.23.

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