J.W. Cole Advisors Inc. Makes New Investment in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

J.W. Cole Advisors Inc. purchased a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,292 shares of the biotechnology company’s stock, valued at approximately $506,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IOVA. AE Wealth Management LLC bought a new position in Iovance Biotherapeutics in the third quarter worth approximately $48,000. Exchange Traded Concepts LLC boosted its holdings in Iovance Biotherapeutics by 23.5% in the third quarter. Exchange Traded Concepts LLC now owns 19,857 shares of the biotechnology company’s stock worth $90,000 after acquiring an additional 3,777 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Iovance Biotherapeutics by 15.1% in the third quarter. Harbor Capital Advisors Inc. now owns 64,863 shares of the biotechnology company’s stock worth $295,000 after acquiring an additional 8,522 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Iovance Biotherapeutics by 357.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 87,595 shares of the biotechnology company’s stock worth $399,000 after purchasing an additional 68,436 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Iovance Biotherapeutics by 7.0% in the third quarter. Bank of New York Mellon Corp now owns 853,944 shares of the biotechnology company’s stock worth $3,885,000 after purchasing an additional 56,160 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 4.8 %

Shares of IOVA opened at $11.86 on Wednesday. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of -6.31 and a beta of 0.62. The stock has a 50 day moving average of $13.90 and a 200 day moving average of $9.02. Iovance Biotherapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.01). The company had revenue of $0.48 million during the quarter, compared to the consensus estimate of $1.44 million. During the same period last year, the firm earned ($0.64) earnings per share. As a group, equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Merrill A. Mcpeak bought 250,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average cost of $9.15 per share, with a total value of $2,287,500.00. Following the completion of the transaction, the director now directly owns 320,150 shares of the company’s stock, valued at approximately $2,929,372.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 10.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on IOVA. Truist Financial reissued a “buy” rating and issued a $17.00 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, December 27th. The Goldman Sachs Group increased their price objective on Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Chardan Capital increased their price objective on Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. JMP Securities increased their price objective on Iovance Biotherapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 20th. Finally, StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.64.

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.