Geode Capital Management LLC Raises Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Geode Capital Management LLC grew its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,871,420 shares of the biotechnology company's stock after buying an additional 222,425 shares during the period. Geode Capital Management LLC owned 1.93% of Iovance Biotherapeutics worth $43,458,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. AlphaQuest LLC grew its holdings 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 worth $34,000 after purchasing an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $36,000. Impact Partnership Wealth LLC acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $83,000. Kazazian Asset Management LLC acquired a new stake in Iovance Biotherapeutics during the 4th quarter worth $84,000. Finally, Clear Creek Financial Management LLC purchased a new position in Iovance Biotherapeutics during the 4th quarter worth $91,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Iovance Biotherapeutics Trading Down 0.5 %

Shares of NASDAQ:IOVA traded down $0.02 during midday trading on Friday, hitting $3.06. 9,645,501 shares of the stock were exchanged, compared to its average volume of 7,475,673. Iovance Biotherapeutics, Inc. has a twelve month low of $2.70 and a twelve month high of $14.23. The company has a 50 day moving average price of $3.95 and a 200-day moving average price of $6.78. The stock has a market cap of $1.00 billion, a P/E ratio of -2.05 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.26). The company 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%. On average, equities research analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 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.