Capital Fund Management S.A. Lowers Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Capital Fund Management S.A. decreased its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 56.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 190,183 shares of the biotechnology company’s stock after selling 250,390 shares during the period. Capital Fund Management S.A. owned about 0.06% of Iovance Biotherapeutics worth $1,407,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IOVA. AlphaQuest LLC boosted its position in shares of Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at $36,000. Impact Partnership Wealth LLC purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth about $83,000. Kazazian Asset Management LLC bought a new position in shares of Iovance Biotherapeutics in the 4th quarter worth about $84,000. Finally, Clear Creek Financial Management LLC purchased a new position in Iovance Biotherapeutics during the 4th quarter valued at about $91,000. Institutional investors own 77.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IOVA. Piper Sandler cut their price objective 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. Barclays reduced their price objective on Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating for the company in a research report on Monday. Chardan Capital dropped their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Finally, Truist Financial lowered their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.56.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $3.23 on Wednesday. Iovance Biotherapeutics, Inc. has a 1 year low of $2.70 and a 1 year high of $14.23. The stock’s fifty day moving average price is $4.10 and its 200-day moving average price is $6.92. The company has a market cap of $1.06 billion, a P/E ratio of -2.17 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The business had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. On average, sell-side analysts anticipate 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.