Landscape Capital Management L.L.C. Acquires 41,359 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Landscape Capital Management L.L.C. boosted its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 63.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,884 shares of the biotechnology company’s stock after acquiring an additional 41,359 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Iovance Biotherapeutics were worth $791,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cinctive Capital Management LP purchased a new stake in Iovance Biotherapeutics in the fourth quarter valued at approximately $2,436,000. Headlands Technologies LLC purchased a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at $190,000. Geode Capital Management LLC lifted its holdings in shares of Iovance Biotherapeutics by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock worth $43,458,000 after acquiring an additional 222,425 shares during the last quarter. Alliancebernstein L.P. grew its position in Iovance Biotherapeutics by 21.3% in the fourth quarter. Alliancebernstein L.P. now owns 765,399 shares of the biotechnology company’s stock worth $5,664,000 after acquiring an additional 134,269 shares in the last quarter. Finally, Pier 88 Investment Partners LLC increased its stake in Iovance Biotherapeutics by 23.7% in the fourth quarter. Pier 88 Investment Partners LLC now owns 54,630 shares of the biotechnology company’s stock valued at $404,000 after acquiring an additional 10,450 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Down 7.7 %

Iovance Biotherapeutics stock opened at $3.00 on Friday. The firm has a 50-day moving average of $4.61 and a 200-day moving average of $7.31. The firm has a market cap of $983.63 million, a P/E ratio of -2.01 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a 1-year low of $2.95 and a 1-year high of $14.23.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Chardan Capital dropped their price target 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. HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Truist Financial decreased their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Robert W. Baird cut their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Finally, Piper Sandler reduced their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

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 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.