Price T Rowe Associates Inc. MD lowered its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 15.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,628,101 shares of the biotechnology company's stock after selling 474,811 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.86% of Iovance Biotherapeutics worth $19,449,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC boosted its position in Iovance Biotherapeutics by 118.8% during the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company's stock valued at $5,677,000 after buying an additional 328,284 shares during the period. SkyView Investment Advisors LLC purchased a new position in Iovance Biotherapeutics during the 3rd quarter valued at about $188,000. Franklin Resources Inc. raised its position in Iovance Biotherapeutics by 9.2% during the 3rd quarter. Franklin Resources Inc. now owns 100,229 shares of the biotechnology company's stock valued at $979,000 after purchasing an additional 8,470 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock worth $37,872,000 after buying an additional 1,496,941 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at approximately $12,927,000. Institutional investors own 77.03% of the company's stock.
Wall Street Analysts Forecast Growth
IOVA has been the subject of several research analyst reports. Piper Sandler lowered their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a report on Friday, February 28th. Robert W. Baird dropped their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Barclays decreased their price objective on Iovance Biotherapeutics from $22.00 to $5.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Truist Financial reduced their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group lowered their price target 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.22.
Check Out Our Latest Stock Analysis on IOVA
Iovance Biotherapeutics Price Performance
Shares of NASDAQ IOVA traded up $0.03 during mid-day trading on Wednesday, reaching $3.13. The company's stock had a trading volume of 2,230,208 shares, compared to its average volume of 7,685,684. The stock has a fifty day moving average of $3.45 and a two-hundred day moving average of $6.25. The firm has a market capitalization of $1.04 billion, a PE ratio of -2.10 and a beta of 1.06. Iovance Biotherapeutics, Inc. has a 52 week low of $2.70 and a 52 week high of $14.13.
Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.26). The firm had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. Analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.
Iovance Biotherapeutics Company Profile
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Free Report)
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.
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