Alliancebernstein L.P. Purchases 134,269 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Alliancebernstein L.P. increased its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 765,399 shares of the biotechnology company's stock after buying an additional 134,269 shares during the period. Alliancebernstein L.P. owned about 0.25% of Iovance Biotherapeutics worth $5,664,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AlphaQuest LLC increased its holdings in shares of 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 acquiring an additional 1,794 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Iovance Biotherapeutics by 10.1% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company's stock valued at $158,000 after acquiring an additional 1,950 shares during the period. HighTower Advisors LLC increased its holdings in shares of Iovance Biotherapeutics by 3.9% in the 4th quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company's stock worth $586,000 after acquiring an additional 2,951 shares during the period. Xponance Inc. lifted its position in Iovance Biotherapeutics by 18.5% in the 4th quarter. Xponance Inc. now owns 19,607 shares of the biotechnology company's stock valued at $145,000 after purchasing an additional 3,066 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Iovance Biotherapeutics by 16.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,684 shares of the biotechnology company's stock valued at $227,000 after purchasing an additional 4,192 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IOVA has been the topic of several analyst reports. Truist Financial dropped 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 target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, February 28th. Chardan Capital reduced their price target 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. HC Wainwright reissued a "buy" rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Finally, The Goldman Sachs Group cut their target price on Iovance Biotherapeutics from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.22.

Iovance Biotherapeutics Trading Down 0.5 %

NASDAQ IOVA traded down $0.02 during trading hours on Friday, reaching $3.06. 9,645,501 shares of the company's stock were exchanged, compared to its average volume of 7,451,823. The firm has a fifty day moving average of $4.00 and a 200-day moving average of $6.85. The stock has a market cap of $1.00 billion, a PE ratio of -2.05 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a one year low of $2.70 and a one year high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share 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 during the quarter, compared to analysts' expectations of $72.17 million. As a group, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current 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.