Cinctive Capital Management LP Invests $2.44 Million in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Cinctive Capital Management LP acquired a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 329,204 shares of the biotechnology company's stock, valued at approximately $2,436,000. Cinctive Capital Management LP owned 0.11% of Iovance Biotherapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. AlphaQuest LLC lifted its holdings in shares of Iovance Biotherapeutics by 63.6% during 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 in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $36,000. Impact Partnership Wealth LLC acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $83,000. Kazazian Asset Management LLC bought a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth $84,000. Finally, Clear Creek Financial Management LLC acquired a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth $91,000. Institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Price Performance

IOVA stock traded down $0.01 during mid-day trading on Tuesday, reaching $3.03. The company had a trading volume of 3,612,904 shares, compared to its average volume of 7,264,114. Iovance Biotherapeutics, Inc. has a 52 week low of $2.70 and a 52 week high of $14.23. The company has a market capitalization of $991.83 million, a price-to-earnings ratio of -2.04 and a beta of 1.05. The stock has a 50 day simple moving average of $4.55 and a two-hundred day simple moving average of $7.24.

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 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 business had revenue of $73.69 million during the quarter, compared to analysts' expectations of $72.17 million. On average, equities analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IOVA. The Goldman Sachs Group lowered their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Robert W. Baird decreased their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Truist Financial cut their target price on 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 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 research note on Friday, February 28th. Finally, HC Wainwright reissued a "buy" rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research 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 assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.25.

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.