Ensign Peak Advisors Inc Buys 502,673 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Ensign Peak Advisors Inc boosted its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 673.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 577,265 shares of the biotechnology company's stock after acquiring an additional 502,673 shares during the period. Ensign Peak Advisors Inc owned 0.19% of Iovance Biotherapeutics worth $4,272,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IOVA. AlphaQuest LLC increased its holdings in Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock valued at $34,000 after purchasing an additional 1,794 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in shares of Iovance Biotherapeutics by 10.1% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company's stock valued at $158,000 after acquiring an additional 1,950 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Iovance Biotherapeutics by 1.0% in the fourth quarter. Baird Financial Group Inc. now owns 195,845 shares of the biotechnology company's stock worth $1,449,000 after acquiring an additional 2,000 shares during the period. Algert Global LLC boosted its holdings in Iovance Biotherapeutics by 4.3% in the fourth quarter. Algert Global LLC now owns 56,400 shares of the biotechnology company's stock valued at $417,000 after acquiring an additional 2,330 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in Iovance Biotherapeutics by 3.9% during the 4th quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company's stock valued at $586,000 after purchasing an additional 2,951 shares during the period. Hedge funds and other institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Stock Up 3.0%

NASDAQ:IOVA traded up $0.06 during mid-day trading on Tuesday, hitting $1.89. 4,152,886 shares of the company traded hands, compared to its average volume of 8,530,420. The stock's fifty day moving average price is $3.12 and its 200-day moving average price is $5.68. The firm has a market cap of $629.47 million, a price-to-earnings ratio of -1.27 and a beta of 1.06. Iovance Biotherapeutics, Inc. has a one year low of $1.64 and a one year high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $49.32 million during the quarter, compared to analysts' expectations of $83.40 million. During the same period last year, the company earned ($0.42) earnings per share. The business's revenue for the quarter was up 6795.1% on a year-over-year basis. Equities analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Wall Street Analyst Weigh In

IOVA has been the topic of several research reports. Robert W. Baird cut their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Truist Financial lowered Iovance Biotherapeutics from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. Mizuho lowered their price objective on Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating for the company in a research report on Monday, May 12th. JMP Securities restated a "market perform" rating on shares of Iovance Biotherapeutics in a report on Friday, May 9th. Finally, Baird R W lowered shares of Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Iovance Biotherapeutics currently has an average rating of "Hold" and an average target price of $13.30.

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.