Soleus Capital Management L.P. Has $48.54 Million Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Soleus Capital Management L.P. cut its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 23.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,560,000 shares of the biotechnology company's stock after selling 1,968,500 shares during the quarter. Iovance Biotherapeutics accounts for 3.1% of Soleus Capital Management L.P.'s portfolio, making the stock its 8th largest position. Soleus Capital Management L.P. owned 2.15% of Iovance Biotherapeutics worth $48,544,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. AlphaQuest LLC grew its stake in shares of Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock valued at $34,000 after acquiring an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $36,000. One68 Global Capital LLC purchased a new position in Iovance Biotherapeutics in the fourth quarter valued at about $74,000. Quarry LP purchased a new position in Iovance Biotherapeutics in the fourth quarter valued at about $74,000. Finally, Fullcircle Wealth LLC acquired a new stake in Iovance Biotherapeutics during the 4th quarter valued at approximately $74,000. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Down 0.3%

NASDAQ IOVA traded down $0.01 on Thursday, hitting $1.75. The stock had a trading volume of 6,076,994 shares, compared to its average volume of 8,627,145. The company's 50-day moving average is $3.05 and its two-hundred day moving average is $5.63. Iovance Biotherapeutics, Inc. has a one year low of $1.64 and a one year high of $12.51. The stock has a market cap of $584.38 million, a price-to-earnings ratio of -1.17 and a beta of 1.06.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $49.32 million for the quarter, compared to analyst estimates of $83.40 million. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. The business's quarterly revenue was up 6795.1% on a year-over-year basis. On average, sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IOVA has been the topic of a number of recent analyst reports. Truist Financial lowered Iovance Biotherapeutics from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. The Goldman Sachs Group cut their price target on shares of Iovance Biotherapeutics from $16.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Robert W. Baird decreased their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Barclays dropped their target price on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Finally, Chardan Capital reduced their price target on shares of Iovance Biotherapeutics from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $13.30.

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.