Headlands Technologies LLC Purchases Shares of 25,725 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Headlands Technologies LLC acquired a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 25,725 shares of the biotechnology company’s stock, valued at approximately $190,000.

A number of other institutional investors and hedge funds have also modified their holdings of IOVA. Geode Capital Management LLC increased its holdings in Iovance Biotherapeutics by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock valued at $43,458,000 after buying an additional 222,425 shares during the period. Alliancebernstein L.P. raised its position in Iovance Biotherapeutics by 21.3% in the fourth quarter. Alliancebernstein L.P. now owns 765,399 shares of the biotechnology company’s stock worth $5,664,000 after purchasing an additional 134,269 shares in the last quarter. Pier 88 Investment Partners LLC lifted its stake in Iovance Biotherapeutics by 23.7% during the fourth quarter. Pier 88 Investment Partners LLC now owns 54,630 shares of the biotechnology company’s stock worth $404,000 after purchasing an additional 10,450 shares during the period. DnB Asset Management AS boosted its holdings in Iovance Biotherapeutics by 27.7% during the fourth quarter. DnB Asset Management AS now owns 40,778 shares of the biotechnology company’s stock valued at $302,000 after purchasing an additional 8,837 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $3,080,000. 77.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IOVA has been the topic of a number of analyst reports. Truist Financial lowered their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group dropped their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Robert W. Baird dropped their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Finally, Piper Sandler reduced their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Iovance Biotherapeutics Stock Performance

NASDAQ:IOVA opened at $3.00 on Friday. The stock has a 50-day simple moving average of $4.61 and a 200 day simple moving average of $7.31. Iovance Biotherapeutics, Inc. has a 52-week low of $2.95 and a 52-week high of $14.23. The company has a market cap of $983.63 million, a PE ratio of -2.01 and a beta of 1.05.

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

About Iovance Biotherapeutics

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.