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

Price T Rowe Associates Inc. MD boosted its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 60.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,267,864 shares of the biotechnology company’s stock after acquiring an additional 1,991,262 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Iovance Biotherapeutics were worth $78,071,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its position in Iovance Biotherapeutics by 1,227.8% during the 4th quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 4,678 shares during the period. Nisa Investment Advisors LLC grew its holdings in Iovance Biotherapeutics by 284.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 5,577 shares during the period. Signaturefd LLC raised its position in Iovance Biotherapeutics by 256.6% in the fourth quarter. Signaturefd LLC now owns 8,723 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 6,277 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Iovance Biotherapeutics in the first quarter valued at $87,000. Finally, Dumont & Blake Investment Advisors LLC acquired a new stake in Iovance Biotherapeutics in the fourth quarter valued at $93,000. 77.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Iovance Biotherapeutics Price Performance

IOVA stock opened at $9.05 on Tuesday. The company’s 50 day simple moving average is $8.52 and its 200-day simple moving average is $10.85. Iovance Biotherapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $18.33. The firm has a market capitalization of $2.53 billion, a PE ratio of -5.03 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.03. The firm had revenue of $0.72 million for the quarter, compared to analyst estimates of $1.99 million. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. Iovance Biotherapeutics’s revenue was up 71400.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.50) EPS. As a group, sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.35 earnings per share for the current 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.