Marshall Wace LLP Invests $8.37 Million in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Marshall Wace LLP bought a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,130,455 shares of the biotechnology company's stock, valued at approximately $8,365,000. Marshall Wace LLP owned approximately 0.37% of Iovance Biotherapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AlphaQuest LLC boosted its holdings in shares of Iovance Biotherapeutics by 63.6% in 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. purchased a new stake in Iovance Biotherapeutics during the fourth quarter worth about $36,000. Integrity Wealth Advisors Inc. purchased a new stake in Iovance Biotherapeutics during the fourth quarter worth about $77,000. Jump Financial LLC purchased a new stake in Iovance Biotherapeutics during the fourth quarter worth about $79,000. Finally, Impact Partnership Wealth LLC purchased a new stake in Iovance Biotherapeutics during the fourth quarter worth about $83,000. Hedge funds and other institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Trading Up 2.8 %

NASDAQ:IOVA traded up $0.10 during mid-day trading on Monday, hitting $3.61. The company had a trading volume of 6,492,167 shares, compared to its average volume of 7,595,967. The business has a fifty day simple moving average of $3.69 and a 200-day simple moving average of $6.49. Iovance Biotherapeutics, Inc. has a 1 year low of $2.70 and a 1 year high of $14.23. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -2.42 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). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $73.69 million for the quarter, compared to analyst estimates of $72.17 million. As a group, research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Analyst Ratings Changes

IOVA has been the topic of a number of research analyst reports. Robert W. Baird decreased their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. 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. Piper Sandler cut their target price 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. The Goldman Sachs Group cut 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 report on Thursday, April 17th. Finally, HC Wainwright restated a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.