Voya Investment Management LLC Decreases Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Voya Investment Management LLC lowered its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,737 shares of the biotechnology company’s stock after selling 3,307 shares during the period. Voya Investment Management LLC owned approximately 0.06% of Iovance Biotherapeutics worth $1,256,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC grew its holdings in Iovance Biotherapeutics by 10.4% during the 4th quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock valued at $66,538,000 after purchasing an additional 846,936 shares in the last quarter. Long Focus Capital Management LLC increased its position in shares of Iovance Biotherapeutics by 13.2% during the fourth quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company’s stock worth $37,977,000 after acquiring an additional 600,000 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Iovance Biotherapeutics by 78.5% in the fourth quarter. Hsbc Holdings PLC now owns 31,945 shares of the biotechnology company’s stock worth $232,000 after acquiring an additional 14,045 shares in the last quarter. B Group Inc. acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $7,341,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Iovance Biotherapeutics by 91.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 44,390 shares of the biotechnology company’s stock valued at $328,000 after purchasing an additional 21,157 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Wall Street Analysts Forecast Growth

IOVA has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their target price on Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Barclays cut their price target on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Chardan Capital cut their target price on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, Piper Sandler decreased their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.22.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA opened at $3.50 on Tuesday. The firm’s 50-day moving average price is $3.49 and its two-hundred day moving average price is $6.27. Iovance Biotherapeutics, Inc. has a 52-week low of $2.70 and a 52-week high of $14.23. The stock has a market capitalization of $1.17 billion, a P/E ratio of -2.35 and a beta of 1.06.

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