Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,812,820 shares of the biotechnology company's stock after acquiring an additional 669,350 shares during the quarter. Vanguard Group Inc. owned about 8.17% of Iovance Biotherapeutics worth $185,468,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Iovance Biotherapeutics in the 4th quarter worth $9,109,000. Invenomic Capital Management LP acquired a new stake in Iovance Biotherapeutics during the 4th quarter worth $8,563,000. Sectoral Asset Management Inc. acquired a new position in shares of Iovance Biotherapeutics in the 3rd quarter valued at $4,482,000. UBS Group AG boosted its stake in Iovance Biotherapeutics by 255.2% in the 4th quarter. UBS Group AG now owns 857,308 shares of the biotechnology company's stock worth $6,970,000 after purchasing an additional 615,920 shares during the period. Finally, Eagle Asset Management Inc. bought a new stake in Iovance Biotherapeutics during the 4th quarter worth about $3,662,000. 77.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IOVA shares. Piper Sandler upped their price target on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Thursday, March 14th. HC Wainwright restated a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday, June 28th. Finally, JMP Securities cut their target price on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Iovance Biotherapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $24.45.

Iovance Biotherapeutics Price Performance

IOVA stock traded down $0.34 on Wednesday, reaching $7.39. 6,284,990 shares of the company traded hands, compared to its average volume of 7,897,338. The company has a market cap of $2.07 billion, a P/E ratio of -4.11 and a beta of 0.63. Iovance Biotherapeutics, Inc. has a one year low of $3.21 and a one year high of $18.33. The firm has a fifty day simple moving average of $9.87 and a 200-day simple moving average of $10.85.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.03. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The company had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.99 million. During the same quarter last year, the firm posted ($0.50) earnings per share. The firm's revenue was up 71400.0% compared to the same quarter last year. On average, sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -1.34 EPS 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.