B Group Inc. Acquires Shares of 992,000 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

B Group Inc. bought a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 992,000 shares of the biotechnology company’s stock, valued at approximately $7,341,000. Iovance Biotherapeutics makes up about 4.5% of B Group Inc.’s investment portfolio, making the stock its 5th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Iovance Biotherapeutics by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company’s stock worth $203,754,000 after buying an additional 220,373 shares during the last quarter. Geode Capital Management LLC lifted its stake in Iovance Biotherapeutics by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock valued at $43,458,000 after buying an additional 222,425 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Iovance Biotherapeutics by 59.0% in the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after acquiring an additional 1,496,941 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Iovance Biotherapeutics by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,430,221 shares of the biotechnology company’s stock worth $17,979,000 after acquiring an additional 360,629 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Iovance Biotherapeutics by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,989,340 shares of the biotechnology company’s stock worth $14,721,000 after acquiring an additional 76,196 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Trading Down 0.5 %

Shares of IOVA stock opened at $3.06 on Monday. The stock has a 50 day simple moving average of $3.95 and a 200-day simple moving average of $6.76. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -2.05 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a 12-month low of $2.70 and a 12-month high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $73.69 million during the quarter, compared to analysts’ expectations of $72.17 million. On average, equities analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IOVA has been the subject of a number of recent research reports. The Goldman Sachs Group decreased 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 note on Thursday. Piper Sandler decreased their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Truist Financial dropped their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Robert W. Baird decreased their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Finally, Chardan Capital dropped their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.22.

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.