GSA Capital Partners LLP increased its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Free Report) by 1,001.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 872,985 shares of the biotechnology company’s stock after acquiring an additional 793,763 shares during the period. GSA Capital Partners LLP owned approximately 0.22% of Iovance Biotherapeutics worth $2,383,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of IOVA. Royal Bank of Canada boosted its stake in Iovance Biotherapeutics by 161.2% during the first quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company’s stock worth $1,740,000 after acquiring an additional 322,680 shares in the last quarter. AQR Capital Management LLC raised its holdings in Iovance Biotherapeutics by 279.0% in the first quarter. AQR Capital Management LLC now owns 59,540 shares of the biotechnology company’s stock worth $195,000 after buying an additional 43,829 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Iovance Biotherapeutics by 30.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock worth $18,554,000 after buying an additional 1,301,846 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Iovance Biotherapeutics by 202.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock worth $19,239,000 after buying an additional 3,869,617 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Iovance Biotherapeutics by 112.1% in the second quarter. Envestnet Asset Management Inc. now owns 47,466 shares of the biotechnology company’s stock worth $82,000 after buying an additional 25,083 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.
Analysts Set New Price Targets
IOVA has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Monday, April 6th. UBS Group lifted their target price on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Wall Street Zen raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Truist Financial raised shares of Iovance Biotherapeutics to a “hold” rating in a report on Wednesday, March 25th. Finally, Barclays lifted their target price on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Iovance Biotherapeutics has a consensus rating of “Hold” and a consensus target price of $8.43.
Iovance Biotherapeutics Price Performance
IOVA opened at $3.39 on Tuesday. The firm has a market cap of $1.51 billion, a P/E ratio of -3.57 and a beta of 0.69. Iovance Biotherapeutics, Inc. has a 1-year low of $1.64 and a 1-year high of $5.63. The company has a 50 day simple moving average of $3.75 and a two-hundred day simple moving average of $3.00.
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.19). Iovance Biotherapeutics had a negative net margin of 123.92% and a negative return on equity of 50.17%. The business had revenue of $71.43 million during the quarter, compared to analyst estimates of $77.84 million. During the same period in the prior year, the business posted ($0.36) earnings per share. The company’s revenue was up 44.9% on a year-over-year basis. Equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -0.6 earnings per share for the current year.
About Iovance Biotherapeutics
Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.
Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.
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