Vanguard Group Inc. Increases Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Vanguard Group Inc. boosted its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,143,470 shares of the biotechnology company's stock after purchasing an additional 1,748,082 shares during the quarter. Vanguard Group Inc. owned about 8.65% of Iovance Biotherapeutics worth $100,753,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IOVA. MHR Fund Management LLC bought a new stake in Iovance Biotherapeutics during the 4th quarter valued at approximately $76,661,000. Perceptive Advisors LLC lifted its position in shares of Iovance Biotherapeutics by 53.8% in the 1st quarter. Perceptive Advisors LLC now owns 15,339,735 shares of the biotechnology company's stock worth $93,726,000 after acquiring an additional 5,367,955 shares during the period. State Street Corp lifted its position in shares of Iovance Biotherapeutics by 71.9% in the 2nd quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company's stock worth $129,949,000 after acquiring an additional 4,925,025 shares during the period. BlackRock Inc. lifted its position in shares of Iovance Biotherapeutics by 36.5% in the 2nd quarter. BlackRock Inc. now owns 17,001,791 shares of the biotechnology company's stock worth $119,693,000 after acquiring an additional 4,545,129 shares during the period. Finally, Morgan Stanley lifted its position in shares of Iovance Biotherapeutics by 374.2% in the 4th quarter. Morgan Stanley now owns 4,969,869 shares of the biotechnology company's stock worth $31,757,000 after acquiring an additional 3,921,869 shares during the period. Institutional investors own 77.03% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Chardan Capital raised their price objective on Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, February 20th. The Goldman Sachs Group raised their price objective on Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, February 29th. StockNews.com upgraded Iovance Biotherapeutics to a "sell" rating in a research report on Friday, February 2nd. Piper Sandler raised their target price on Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Thursday, March 14th. Finally, Barclays raised their target price on Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.64.

Insider Activity at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Merrill A. Mcpeak purchased 250,000 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $9.15 per share, with a total value of $2,287,500.00. Following the acquisition, the director now directly owns 320,150 shares of the company's stock, valued at approximately $2,929,372.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.40% of the company's stock.

Iovance Biotherapeutics Stock Down 0.5 %

IOVA stock traded down $0.07 during midday trading on Friday, reaching $13.53. 3,380,240 shares of the company's stock traded hands, compared to its average volume of 9,384,747. The company has a 50-day simple moving average of $12.93 and a two-hundred day simple moving average of $8.33. Iovance Biotherapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $18.33. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -7.23 and a beta of 0.62.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.01). The company had revenue of $0.48 million during the quarter, compared to analysts' expectations of $1.44 million. During the same period last year, the company earned ($0.64) earnings per share. Equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.4 EPS 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.