Vanguard Group Inc. Boosts Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Vanguard Group Inc. lifted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,534,340 shares of the biotechnology company's stock after purchasing an additional 220,373 shares during the quarter. Vanguard Group Inc. owned about 9.03% of Iovance Biotherapeutics worth $203,754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IOVA. Assenagon Asset Management S.A. acquired a new stake in Iovance Biotherapeutics in the 4th quarter valued at about $12,927,000. Raymond James Financial Inc. acquired a new stake in Iovance Biotherapeutics in the 4th quarter valued at about $11,568,000. Principal Financial Group Inc. grew its stake in Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock valued at $37,872,000 after acquiring an additional 1,496,941 shares during the last quarter. State Street Corp grew its stake in Iovance Biotherapeutics by 4.6% in the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company's stock valued at $123,967,000 after acquiring an additional 576,801 shares during the last quarter. Finally, Barclays PLC grew its stake in Iovance Biotherapeutics by 118.8% in the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company's stock valued at $5,677,000 after acquiring an additional 328,284 shares during the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Down 8.3 %

Shares of IOVA stock traded down $0.27 during trading hours on Thursday, hitting $3.00. 2,971,058 shares of the company were exchanged, compared to its average volume of 9,768,117. The firm has a market cap of $983.63 million, a PE ratio of -2.01 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a 1 year low of $2.70 and a 1 year high of $14.23. The firm has a fifty day moving average of $4.31 and a 200 day moving average of $7.09.

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%. Analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IOVA shares. HC Wainwright reissued a "buy" rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Truist Financial reduced their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Chardan Capital reduced their target price on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group reduced 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. Finally, Piper Sandler reduced their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $20.25.

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.