First Trust Advisors LP Takes Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

First Trust Advisors LP purchased a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 324,246 shares of the biotechnology company's stock, valued at approximately $2,399,000. First Trust Advisors LP owned approximately 0.11% of Iovance Biotherapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC grew its holdings in shares of Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock worth $34,000 after acquiring an additional 1,794 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Iovance Biotherapeutics in the fourth quarter worth $36,000. Integrity Wealth Advisors Inc. bought a new position in Iovance Biotherapeutics in the fourth quarter worth $77,000. Jump Financial LLC bought a new position in Iovance Biotherapeutics in the fourth quarter worth $79,000. Finally, Impact Partnership Wealth LLC purchased a new position in Iovance Biotherapeutics during the fourth quarter valued at $83,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA opened at $3.50 on Monday. The business has a 50-day simple moving average of $3.53 and a two-hundred day simple moving average of $6.32. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -2.35 and a beta of 1.06. Iovance Biotherapeutics, Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). The company had revenue of $73.69 million for 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%. As a group, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Analyst Ratings Changes

IOVA has been the subject of several research reports. Piper Sandler decreased their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group decreased their target price on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. HC Wainwright reissued a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Truist Financial reduced their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Finally, Chardan Capital dropped their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.22.

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.

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