Clear Harbor Asset Management LLC Acquires Shares of 11,000 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Clear Harbor Asset Management LLC acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 11,000 shares of the biotechnology company’s stock, valued at approximately $89,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Iovance Biotherapeutics by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,143,470 shares of the biotechnology company’s stock valued at $100,753,000 after purchasing an additional 1,748,082 shares during the period. BlackRock Inc. grew its stake in shares of Iovance Biotherapeutics by 36.5% during 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. Perceptive Advisors LLC grew its stake in shares of Iovance Biotherapeutics by 53.8% during 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. MHR Fund Management LLC bought a new position in shares of Iovance Biotherapeutics during the 4th quarter worth $76,661,000. Finally, State Street Corp grew its stake in shares of Iovance Biotherapeutics by 71.9% during 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. Institutional investors own 77.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IOVA shares. Barclays increased their price target on Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Piper Sandler increased their price target on Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Thursday, February 29th. Truist Financial reissued a “buy” rating and set a $17.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, December 27th. Finally, The Goldman Sachs Group increased their price objective on Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.64.

Iovance Biotherapeutics Stock Up 5.1 %

NASDAQ:IOVA opened at $14.82 on Friday. The business’s 50-day moving average price is $12.45 and its two-hundred day moving average price is $8.09. Iovance Biotherapeutics, Inc. has a twelve month low of $3.21 and a twelve month high of $18.33. The stock has a market cap of $4.14 billion, a P/E ratio of -7.88 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the firm posted ($0.64) earnings per share. On average, equities research analysts expect that Iovance Biotherapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Insider Activity at Iovance Biotherapeutics

In other news, Director Merrill A. Mcpeak acquired 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average cost of $9.15 per share, with a total value of $2,287,500.00. Following the acquisition, the director now owns 320,150 shares in the company, valued at approximately $2,929,372.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.40% of the stock is currently owned by insiders.

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. 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.