Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Purchased by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB grew its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 17.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,235,448 shares of the biotechnology company's stock after purchasing an additional 182,948 shares during the period. Rhenman & Partners Asset Management AB owned about 0.41% of Iovance Biotherapeutics worth $9,142,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC lifted its position in Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock worth $34,000 after buying an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at $36,000. Impact Partnership Wealth LLC bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at $83,000. Kazazian Asset Management LLC bought a new stake in Iovance Biotherapeutics in the fourth quarter worth $84,000. Finally, Clear Creek Financial Management LLC purchased a new stake in Iovance Biotherapeutics during the fourth quarter valued at about $91,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IOVA. Truist Financial lowered their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Piper Sandler lowered their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a report on Friday, February 28th. HC Wainwright reissued a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Chardan Capital lowered their price objective on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group cut their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Iovance Biotherapeutics has a consensus rating of "Moderate Buy" and an average price target of $20.25.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA traded down $0.34 during trading on Thursday, hitting $2.94. The company had a trading volume of 7,575,190 shares, compared to its average volume of 7,354,327. Iovance Biotherapeutics, Inc. has a 12 month low of $2.70 and a 12 month high of $14.23. The firm has a market capitalization of $962.32 million, a P/E ratio of -1.96 and a beta of 1.05. The stock has a 50 day simple moving average of $4.31 and a 200 day simple moving average of $7.09.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share 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 during the quarter, compared to analyst estimates of $72.17 million. As a group, analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 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.