Northern Trust Corp Boosts Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Northern Trust Corp grew its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,414,807 shares of the biotechnology company's stock after purchasing an additional 166,231 shares during the period. Northern Trust Corp owned about 0.79% of Iovance Biotherapeutics worth $17,870,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Iovance Biotherapeutics during the fourth quarter worth about $515,000. Jennison Associates LLC bought a new stake in Iovance Biotherapeutics during the fourth quarter worth about $493,000. Barclays PLC lifted its stake in Iovance Biotherapeutics by 118.8% during the third quarter. Barclays PLC now owns 604,584 shares of the biotechnology company's stock worth $5,677,000 after purchasing an additional 328,284 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock worth $37,872,000 after purchasing an additional 1,496,941 shares during the last quarter. Finally, Banque Pictet & Cie SA increased its holdings in shares of Iovance Biotherapeutics by 17.0% in the fourth quarter. Banque Pictet & Cie SA now owns 376,591 shares of the biotechnology company's stock worth $2,787,000 after buying an additional 54,832 shares during the period. Institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA traded down $0.10 during mid-day trading on Friday, reaching $1.66. 19,341,523 shares of the company's stock traded hands, compared to its average volume of 8,503,607. Iovance Biotherapeutics, Inc. has a 12-month low of $1.64 and a 12-month high of $12.51. The firm has a market capitalization of $554.33 million, a price-to-earnings ratio of -1.11 and a beta of 1.06. The company has a 50 day moving average price of $3.16 and a 200-day moving average price of $5.82.

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

Analysts Set New Price Targets

Several research analysts have recently commented on the company. HC Wainwright decreased their price objective on Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Barclays decreased their price objective on Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. JMP Securities reiterated a "market perform" rating on shares of Iovance Biotherapeutics in a report on Friday, May 9th. The Goldman Sachs Group decreased their price objective on Iovance Biotherapeutics from $16.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, UBS Group downgraded Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $17.00 to $2.00 in a report on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $13.30.

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.