Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Purchased by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC lifted its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 23.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,630 shares of the biotechnology company’s stock after acquiring an additional 10,450 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Iovance Biotherapeutics were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IOVA. DnB Asset Management AS boosted its holdings in Iovance Biotherapeutics by 27.7% in the fourth quarter. DnB Asset Management AS now owns 40,778 shares of the biotechnology company’s stock worth $302,000 after purchasing an additional 8,837 shares during the period. Norges Bank bought a new position in shares of Iovance Biotherapeutics in the 4th quarter worth about $3,080,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Iovance Biotherapeutics by 16.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,684 shares of the biotechnology company’s stock valued at $227,000 after buying an additional 4,192 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Iovance Biotherapeutics by 83.8% in the 4th quarter. Prudential Financial Inc. now owns 31,700 shares of the biotechnology company’s stock valued at $235,000 after buying an additional 14,452 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Iovance Biotherapeutics by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company’s stock valued at $203,754,000 after buying an additional 220,373 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IOVA has been the subject of a number of research reports. Chardan Capital decreased their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Robert W. Baird reduced 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. Truist Financial lowered their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Piper Sandler cut their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Finally, The Goldman Sachs Group reduced their price target on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $20.25.

Iovance Biotherapeutics Stock Down 1.9 %

Shares of NASDAQ IOVA opened at $3.56 on Monday. The firm’s 50-day simple moving average is $4.89 and its 200 day simple moving average is $7.53. The stock has a market cap of $1.17 billion, a P/E ratio of -2.39 and a beta of 0.93. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.33 and a fifty-two week high of $14.77.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly 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). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. On average, sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

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.