Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,871,420 shares of the biotechnology company's stock after acquiring an additional 222,425 shares during the period. Geode Capital Management LLC owned 1.93% of Iovance Biotherapeutics worth $43,458,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IOVA. AlphaQuest LLC increased its position 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 worth $34,000 after purchasing an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Iovance Biotherapeutics during the fourth quarter worth about $36,000. Impact Partnership Wealth LLC acquired a new stake in shares of Iovance Biotherapeutics during the fourth quarter valued at about $83,000. Kazazian Asset Management LLC purchased a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $84,000. Finally, Clear Creek Financial Management LLC acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter worth $91,000. Institutional investors and hedge funds own 77.03% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IOVA shares. Piper Sandler cut their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a report on Friday, February 28th. The Goldman Sachs Group dropped their target price on Iovance Biotherapeutics from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday. Robert W. Baird decreased their target price 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. Chardan Capital lowered their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, Barclays decreased their price target on Iovance Biotherapeutics from $22.00 to $5.00 and set an "overweight" rating for the company in a report on Monday. 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 stock. According to data from MarketBeat, Iovance Biotherapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $18.22.

Iovance Biotherapeutics Trading Down 0.5 %

Shares of Iovance Biotherapeutics stock traded down $0.02 during mid-day trading on Friday, hitting $3.06. 9,645,501 shares of the stock were exchanged, compared to its average volume of 7,451,823. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -2.05 and a beta of 1.05. The company has a 50-day simple moving average of $4.00 and a 200 day simple moving average of $6.85. 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 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). The business had revenue of $73.69 million for the quarter, compared to analyst estimates of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. Equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal 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.