MPM Bioimpact LLC Boosts Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

MPM Bioimpact LLC grew its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,673,905 shares of the biotechnology company's stock after acquiring an additional 267,191 shares during the quarter. Iovance Biotherapeutics comprises about 2.8% of MPM Bioimpact LLC's portfolio, making the stock its 11th biggest holding. MPM Bioimpact LLC owned approximately 0.88% of Iovance Biotherapeutics worth $19,787,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC increased its holdings in Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock worth $34,000 after purchasing an additional 1,794 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position 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 worth $158,000 after acquiring an additional 1,950 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Iovance Biotherapeutics by 1.0% during 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 last quarter. Algert Global LLC raised its position in shares of Iovance Biotherapeutics by 4.3% during the fourth quarter. Algert Global LLC now owns 56,400 shares of the biotechnology company's stock worth $417,000 after acquiring an additional 2,330 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Iovance Biotherapeutics by 3.9% during the fourth quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company's stock worth $586,000 after acquiring an additional 2,951 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Trading Down 5.7%

Shares of NASDAQ:IOVA traded down $0.10 during mid-day trading on Friday, hitting $1.66. 19,341,523 shares of the company traded hands, compared to its average volume of 8,503,607. The stock has a market cap of $554.33 million, a P/E ratio of -1.11 and a beta of 1.06. Iovance Biotherapeutics, Inc. has a 12-month low of $1.64 and a 12-month high of $12.51. The stock has a 50-day moving average price of $3.16 and a two-hundred day moving average price of $5.82.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its earnings results 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). The company had revenue of $49.32 million for the quarter, compared to analysts' expectations of $83.40 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The firm's quarterly revenue was up 6795.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.42) EPS. As a group, analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IOVA shares. Chardan Capital lowered their price objective on Iovance Biotherapeutics from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, May 9th. HC Wainwright lowered their target price on Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating for the company in a report on Friday, May 9th. JMP Securities reiterated a "market perform" rating on shares of Iovance Biotherapeutics in a report on Friday, May 9th. UBS Group downgraded Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $17.00 to $2.00 in a report on Friday. Finally, The Goldman Sachs Group lowered their target price on Iovance Biotherapeutics from $16.00 to $8.00 and set a "buy" rating for the company in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, six have issued 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 price target of $13.30.

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.