Intech Investment Management LLC Buys 49,390 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Intech Investment Management LLC boosted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 50.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,348 shares of the biotechnology company’s stock after acquiring an additional 49,390 shares during the period. Intech Investment Management LLC’s holdings in Iovance Biotherapeutics were worth $1,090,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of IOVA. AlphaQuest LLC increased its stake in shares of Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. bought a new position 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 in the 4th quarter valued at $83,000. Clear Creek Financial Management LLC bought a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $91,000. Finally, KBC Group NV increased its stake in shares of Iovance Biotherapeutics by 105.7% in the 4th quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 6,321 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group decreased their price target 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. Truist Financial cut their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Piper Sandler cut their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Finally, Chardan Capital cut their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned 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 price target of $20.25.

Iovance Biotherapeutics Stock Performance

Shares of IOVA opened at $3.54 on Friday. The company has a market capitalization of $1.16 billion, a PE ratio of -2.38 and a beta of 0.93. Iovance Biotherapeutics, Inc. has a 12 month low of $3.42 and a 12 month high of $15.50. The stock’s 50-day moving average price is $5.12 and its two-hundred day moving average price is $7.77.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). The firm had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. Equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal 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.