Haven Capital Group Inc. Buys Shares of 124,449 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Haven Capital Group Inc. purchased a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 124,449 shares of the biotechnology company’s stock, valued at approximately $921,000. Iovance Biotherapeutics comprises 0.9% of Haven Capital Group Inc.’s investment portfolio, making the stock its 22nd biggest holding.

Other hedge funds have also recently modified their holdings of the company. State Street Corp increased its position in Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock worth $123,967,000 after purchasing an additional 576,801 shares during the period. Principal Financial Group Inc. grew its holdings in Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after acquiring an additional 1,496,941 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Iovance Biotherapeutics by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,989,340 shares of the biotechnology company’s stock worth $14,721,000 after acquiring an additional 76,196 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Iovance Biotherapeutics in the fourth quarter valued at $12,927,000. Finally, Raymond James Financial Inc. acquired a new stake in Iovance Biotherapeutics in the fourth quarter valued at $11,568,000. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Performance

Iovance Biotherapeutics stock opened at $3.74 on Tuesday. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.48 and a fifty-two week high of $15.90. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -2.51 and a beta of 0.93. The stock has a fifty day moving average of $5.40 and a two-hundred day moving average of $7.96.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting 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 analysts’ expectations of $72.17 million. On average, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Analyst Ratings Changes

IOVA has been the subject of a number of research analyst reports. Truist Financial cut their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Robert W. Baird lowered their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. The Goldman Sachs Group dropped their price objective on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Chardan Capital decreased 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Iovance Biotherapeutics Company 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.