Hood River Capital Management LLC Grows Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Hood River Capital Management LLC raised its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 10.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,991,573 shares of the biotechnology company's stock after acquiring an additional 846,936 shares during the period. Hood River Capital Management LLC owned 2.95% of Iovance Biotherapeutics worth $66,538,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IOVA. Vanguard Group Inc. boosted its position in Iovance Biotherapeutics by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company's stock worth $203,754,000 after purchasing an additional 220,373 shares during the period. Geode Capital Management LLC raised its stake in Iovance Biotherapeutics by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company's stock worth $43,458,000 after acquiring an additional 222,425 shares during the period. Long Focus Capital Management LLC increased its position in Iovance Biotherapeutics by 13.2% in the fourth quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company's stock worth $37,977,000 after buying an additional 600,000 shares during the period. Principal Financial Group Inc. boosted its position in shares of Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock worth $37,872,000 after buying an additional 1,496,941 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Iovance Biotherapeutics by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,430,221 shares of the biotechnology company's stock valued at $17,979,000 after purchasing an additional 360,629 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IOVA has been the subject of a number of recent analyst reports. Truist Financial decreased their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group lowered their price objective 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 cut 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. Piper Sandler lowered their price target 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. Finally, HC Wainwright restated a "buy" rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Iovance Biotherapeutics has an average rating of "Moderate Buy" and a consensus target price of $18.22.

Iovance Biotherapeutics Trading Up 4.2 %

IOVA stock opened at $3.21 on Wednesday. The firm has a 50-day moving average of $3.87 and a two-hundred day moving average of $6.69. The firm has a market capitalization of $1.05 billion, a PE ratio of -2.15 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 posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts' consensus estimates of ($0.26). The firm had revenue of $73.69 million during 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%. On average, equities research analysts anticipate 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.

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