Kennedy Capital Management LLC Has $1.57 Million Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Kennedy Capital Management LLC raised its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 52.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 344,042 shares of the biotechnology company's stock after acquiring an additional 118,133 shares during the period. Kennedy Capital Management LLC owned about 0.13% of Iovance Biotherapeutics worth $1,565,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in IOVA. Envestnet Asset Management Inc. raised its holdings in Iovance Biotherapeutics by 17.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 14,017 shares of the biotechnology company's stock valued at $233,000 after acquiring an additional 2,099 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings in Iovance Biotherapeutics by 71.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 1,085,121 shares of the biotechnology company's stock valued at $18,067,000 after acquiring an additional 453,337 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Iovance Biotherapeutics by 53.3% in the 1st quarter. Raymond James & Associates now owns 15,386 shares of the biotechnology company's stock worth $256,000 after buying an additional 5,350 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Iovance Biotherapeutics by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,772,007 shares of the biotechnology company's stock worth $29,504,000 after buying an additional 104,913 shares in the last quarter. Finally, AlphaCrest Capital Management LLC raised its holdings in shares of Iovance Biotherapeutics by 11.7% in the 1st quarter. AlphaCrest Capital Management LLC now owns 17,538 shares of the biotechnology company's stock worth $292,000 after buying an additional 1,838 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company's stock.

Insider Transactions at Iovance Biotherapeutics

In related news, Director Merrill A. Mcpeak purchased 250,000 shares of Iovance Biotherapeutics stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average cost of $9.15 per share, for a total transaction of $2,287,500.00. Following the transaction, the director now directly owns 320,150 shares of the company's stock, valued at $2,929,372.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.40% of the stock is owned by corporate insiders.

Iovance Biotherapeutics Trading Down 5.5 %

Shares of IOVA opened at $15.70 on Friday. The business's fifty day moving average price is $10.66 and its two-hundred day moving average price is $7.22. Iovance Biotherapeutics, Inc. has a 52 week low of $3.21 and a 52 week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The biotechnology company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.01). The business had revenue of $0.48 million during the quarter, compared to analysts' expectations of $1.44 million. During the same quarter last year, the firm earned ($0.64) EPS. Research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. HC Wainwright reissued a "buy" rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Thursday, February 29th. Piper Sandler increased their price target on Iovance Biotherapeutics from $14.00 to $18.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 20th. Truist Financial restated a "buy" rating and set a $17.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, December 27th. Finally, JMP Securities increased their price target on Iovance Biotherapeutics from $18.00 to $25.00 and gave the stock a "market outperform" rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Iovance Biotherapeutics has a consensus rating of "Moderate Buy" and an average target price of $24.55.

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. 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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