Price T Rowe Associates Inc. MD Increases Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Price T Rowe Associates Inc. MD lifted its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 60.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,267,864 shares of the biotechnology company’s stock after buying an additional 1,991,262 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.88% of Iovance Biotherapeutics worth $78,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of IOVA. Avoro Capital Advisors LLC grew its position in Iovance Biotherapeutics by 74.6% in the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock valued at $173,394,000 after acquiring an additional 5,000,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock worth $369,245,000 after purchasing an additional 2,102,480 shares during the last quarter. Norges Bank bought a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $9,109,000. Invenomic Capital Management LP purchased a new position in Iovance Biotherapeutics in the 4th quarter worth about $8,563,000. Finally, Hood River Capital Management LLC lifted its holdings in Iovance Biotherapeutics by 31.1% during the 1st quarter. Hood River Capital Management LLC now owns 2,624,238 shares of the biotechnology company’s stock valued at $38,891,000 after buying an additional 622,728 shares in the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Trading Down 2.2 %

IOVA opened at $9.05 on Tuesday. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of -5.03 and a beta of 0.63. Iovance Biotherapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $18.33. The stock has a fifty day moving average price of $8.52 and a 200-day moving average price of $10.85.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. The business had revenue of $0.72 million during the quarter, compared to the consensus estimate of $1.99 million. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The firm’s revenue was up 71400.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.50) earnings per share. On average, equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IOVA. Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $10.00 in a research report on Monday. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, June 28th. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research report on Friday, July 12th. Finally, JMP Securities dropped their price target on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $23.64.

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.