Boxer Capital Management LLC Buys Shares of 750,000 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Boxer Capital Management LLC bought a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 750,000 shares of the biotechnology company's stock, valued at approximately $5,550,000. Boxer Capital Management LLC owned 0.25% of Iovance Biotherapeutics at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Iovance Biotherapeutics by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company's stock valued at $203,754,000 after acquiring an additional 220,373 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of Iovance Biotherapeutics by 10.4% in the 4th quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company's stock worth $66,538,000 after buying an additional 846,936 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Iovance Biotherapeutics by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company's stock worth $43,458,000 after buying an additional 222,425 shares during the period. Long Focus Capital Management LLC boosted its stake in Iovance Biotherapeutics by 13.2% in the 4th quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company's stock valued at $37,977,000 after buying an additional 600,000 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Iovance Biotherapeutics by 59.0% in the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock valued at $37,872,000 after acquiring an additional 1,496,941 shares during the period. Institutional investors and hedge funds own 77.03% of the company's stock.

Iovance Biotherapeutics Trading Down 11.3 %

Shares of NASDAQ:IOVA traded down $0.40 during midday trading on Tuesday, hitting $3.11. The company had a trading volume of 12,747,891 shares, compared to its average volume of 9,686,687. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -2.08 and a beta of 1.06. Iovance Biotherapeutics, Inc. has a 12 month low of $2.70 and a 12 month high of $14.13. The firm has a fifty day simple moving average of $3.49 and a 200 day simple moving average of $6.27.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IOVA has been the subject of a number of recent analyst reports. Chardan Capital dropped their target price on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Truist Financial dropped their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group lowered their target price on Iovance Biotherapeutics from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Barclays decreased their price objective on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Piper Sandler reduced their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.22.

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.