Handelsbanken Fonder AB Boosts Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Handelsbanken Fonder AB boosted its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 90.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,700 shares of the biotechnology company’s stock after acquiring an additional 26,500 shares during the period. Handelsbanken Fonder AB’s holdings in Iovance Biotherapeutics were worth $453,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its stake in Iovance Biotherapeutics by 116.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,356 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 3,414 shares in the last quarter. Annandale Capital LLC acquired a new position in Iovance Biotherapeutics during the third quarter worth $32,000. Clear Street Markets LLC acquired a new position in Iovance Biotherapeutics during the third quarter worth $35,000. AE Wealth Management LLC acquired a new position in Iovance Biotherapeutics during the third quarter worth $48,000. Finally, Pathstone Family Office LLC acquired a new position in Iovance Biotherapeutics during the third quarter worth $48,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Performance

Shares of IOVA opened at $12.50 on Thursday. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $18.33. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of -6.65 and a beta of 0.62. The firm has a 50-day simple moving average of $14.07 and a 200-day simple moving average of $9.38.

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

Analyst Ratings Changes

A number of research analysts have commented on IOVA shares. Piper Sandler upped their price target on Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. JMP Securities increased their price objective on Iovance Biotherapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 20th. Barclays increased their price objective on Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research note on Friday, February 2nd. Finally, Wells Fargo & Company increased their price objective on Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.64.

Insider Transactions at Iovance Biotherapeutics

In other news, Director Merrill A. Mcpeak acquired 250,000 shares of Iovance Biotherapeutics stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $9.15 per share, for a total transaction of $2,287,500.00. Following the completion of the transaction, the director now directly owns 320,150 shares in the company, valued at $2,929,372.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.40% of the company’s stock.

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.