B Group Inc. Buys New Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

B Group Inc. acquired a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 992,000 shares of the biotechnology company's stock, valued at approximately $7,341,000. Iovance Biotherapeutics comprises approximately 4.5% of B Group Inc.'s investment portfolio, making the stock its 5th largest holding. B Group Inc. owned about 0.33% of Iovance Biotherapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in IOVA. AlphaQuest LLC lifted its stake in Iovance Biotherapeutics by 63.6% during 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. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $36,000. Integrity Wealth Advisors Inc. acquired a new position in Iovance Biotherapeutics in the 4th quarter worth approximately $77,000. Jump Financial LLC acquired a new position in Iovance Biotherapeutics in the 4th quarter worth approximately $79,000. Finally, Impact Partnership Wealth LLC purchased a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $83,000. 77.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IOVA has been the subject of several recent analyst reports. Chardan Capital decreased their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group decreased their price objective on Iovance Biotherapeutics from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. 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. Piper Sandler decreased their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a report on Friday, February 28th. Finally, Truist Financial lowered their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Iovance Biotherapeutics has an average rating of "Moderate Buy" and an average price target of $18.22.

Iovance Biotherapeutics Stock Up 4.5 %

Shares of IOVA traded up $0.15 during mid-day trading on Friday, hitting $3.51. 14,756,313 shares of the company's stock were exchanged, compared to its average volume of 7,579,939. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -2.36 and a beta of 1.05. The firm has a fifty day moving average of $3.73 and a two-hundred day moving average of $6.58. Iovance Biotherapeutics, Inc. has a twelve month low of $2.70 and a twelve month high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The firm had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. On average, equities 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.