CM Management LLC Boosts Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

CM Management LLC boosted its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 20.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 300,000 shares of the biotechnology company’s stock after purchasing an additional 50,000 shares during the quarter. Iovance Biotherapeutics comprises about 1.9% of CM Management LLC’s holdings, making the stock its 21st largest position. CM Management LLC’s holdings in Iovance Biotherapeutics were worth $2,220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at approximately $36,000. Impact Partnership Wealth LLC purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at $83,000. Clear Creek Financial Management LLC acquired a new position in Iovance Biotherapeutics in the fourth quarter valued at $91,000. KBC Group NV lifted its position in Iovance Biotherapeutics by 105.7% during the fourth quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock worth $91,000 after buying an additional 6,321 shares during the period. Finally, DRW Securities LLC purchased a new stake in Iovance Biotherapeutics in the 3rd quarter valued at about $121,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Price Performance

IOVA stock opened at $3.75 on Friday. The stock’s 50 day moving average is $5.85 and its two-hundred day moving average is $8.32. Iovance Biotherapeutics, Inc. has a 52-week low of $3.58 and a 52-week high of $17.14. The company has a market capitalization of $1.23 billion, a PE ratio of -2.52 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). The company had revenue of $73.69 million during the quarter, compared to the consensus estimate of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. As a group, sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on IOVA. The Goldman Sachs Group decreased their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Chardan Capital reduced their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Piper Sandler dropped 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 report on Friday, February 28th. Robert W. Baird reduced their price target on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

Iovance Biotherapeutics Company 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.