Arizona State Retirement System Grows Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Arizona State Retirement System boosted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 9.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,658 shares of the biotechnology company’s stock after purchasing an additional 5,255 shares during the period. Arizona State Retirement System’s holdings in Iovance Biotherapeutics were worth $456,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IOVA. Assenagon Asset Management S.A. purchased a new stake in Iovance Biotherapeutics during the 4th quarter worth approximately $12,927,000. Principal Financial Group Inc. grew its position in Iovance Biotherapeutics by 59.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after purchasing an additional 1,496,941 shares during the last quarter. State Street Corp grew 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 last quarter. Barclays PLC grew its position in Iovance Biotherapeutics by 118.8% during the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock worth $5,677,000 after purchasing an additional 328,284 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Iovance Biotherapeutics by 399.4% during the 3rd quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock worth $1,355,000 after purchasing an additional 115,387 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

IOVA opened at $3.59 on Friday. The firm has a fifty day moving average price of $5.55 and a 200 day moving average price of $8.12. Iovance Biotherapeutics, Inc. has a 1 year low of $3.48 and a 1 year high of $15.90. The stock has a market cap of $1.18 billion, a P/E ratio of -2.41 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). The firm 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%. Equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on IOVA shares. Robert W. Baird dropped their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Truist Financial dropped their price objective 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. The Goldman Sachs Group dropped their price objective 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. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Finally, Piper Sandler dropped their price objective 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 assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.