Raymond James Financial Inc. purchased a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,563,296 shares of the biotechnology company's stock, valued at approximately $11,568,000. Raymond James Financial Inc. owned approximately 0.51% of Iovance Biotherapeutics at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Arizona State Retirement System raised its stake in Iovance Biotherapeutics by 9.3% in the fourth quarter. Arizona State Retirement System now owns 61,658 shares of the biotechnology company's stock valued at $456,000 after buying an additional 5,255 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $225,000. Charles Schwab Investment Management Inc. lifted its position in shares of Iovance Biotherapeutics by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,989,340 shares of the biotechnology company's stock worth $14,721,000 after buying an additional 76,196 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Iovance Biotherapeutics by 83.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 18,679 shares of the biotechnology company's stock valued at $138,000 after buying an additional 8,482 shares in the last quarter. Finally, Grandfield & Dodd LLC boosted its stake in Iovance Biotherapeutics by 85.3% in the fourth quarter. Grandfield & Dodd LLC now owns 55,715 shares of the biotechnology company's stock valued at $412,000 after acquiring an additional 25,645 shares in the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.
Iovance Biotherapeutics Price Performance
IOVA traded up $0.09 during midday trading on Monday, reaching $3.63. 6,695,664 shares of the company's stock were exchanged, compared to its average volume of 6,970,929. The business's 50-day moving average price is $5.12 and its 200 day moving average price is $7.75. The stock has a market capitalization of $1.19 billion, a PE ratio of -2.44 and a beta of 0.93. Iovance Biotherapeutics, Inc. has a 1-year low of $3.42 and a 1-year high of $15.50.
Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $72.17 million. As a group, analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently commented on IOVA shares. Chardan Capital cut their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. HC Wainwright reissued a "buy" rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, February 28th. The Goldman Sachs Group cut their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a report 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, Truist Financial dropped their price objective 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Iovance Biotherapeutics has an average rating of "Moderate Buy" and a consensus price target of $20.25.
Check Out Our Latest Research Report on Iovance Biotherapeutics
About Iovance Biotherapeutics
(
Free Report)
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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