Sciencast Management LP Buys New Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Sciencast Management LP bought a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,569 shares of the biotechnology company’s stock, valued at approximately $100,000.

Several other large investors have also recently bought and sold shares of IOVA. Assenagon Asset Management S.A. purchased a new position in Iovance Biotherapeutics in the fourth quarter valued at $12,927,000. Raymond James Financial Inc. purchased a new position in shares of Iovance Biotherapeutics during the fourth quarter worth about $11,568,000. Principal Financial Group Inc. grew its holdings in shares of 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 purchasing an additional 1,496,941 shares during the last quarter. State Street Corp grew its holdings in shares of Iovance Biotherapeutics by 4.6% during the third 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. Finally, Barclays PLC grew its holdings in shares of Iovance Biotherapeutics by 118.8% during the third 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. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of IOVA opened at $3.54 on Monday. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.42 and a fifty-two week high of $15.50. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.38 and a beta of 0.93. The firm has a 50-day simple moving average of $5.12 and a 200-day simple moving average of $7.75.

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

Wall Street Analysts Forecast Growth

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

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.