Marshall Wace LLP Takes $8.37 Million Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Marshall Wace LLP bought a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 4th quarter, HoldingsChannel reports. The fund bought 1,130,455 shares of the biotechnology company’s stock, valued at approximately $8,365,000.

Several other hedge funds have also recently added to or reduced their stakes in IOVA. SG Americas Securities LLC acquired a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $515,000. Jennison Associates LLC acquired a new stake in Iovance Biotherapeutics in the fourth quarter worth approximately $493,000. Barclays PLC boosted its stake in Iovance Biotherapeutics by 118.8% during the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock valued at $5,677,000 after purchasing an additional 328,284 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Iovance Biotherapeutics by 59.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after purchasing an additional 1,496,941 shares in the last quarter. Finally, Banque Pictet & Cie SA increased its position in shares of Iovance Biotherapeutics by 17.0% during the 4th quarter. Banque Pictet & Cie SA now owns 376,591 shares of the biotechnology company’s stock valued at $2,787,000 after purchasing an additional 54,832 shares during the period. Institutional investors own 77.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on IOVA. Barclays lowered their target price on Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group dropped their target price on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Robert W. Baird decreased their price target on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Piper Sandler cut their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Finally, Truist Financial reduced their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.22.

Iovance Biotherapeutics Stock Up 4.2 %

Shares of NASDAQ:IOVA opened at $3.21 on Wednesday. The company has a market cap of $1.05 billion, a P/E ratio of -2.15 and a beta of 1.05. The company’s fifty day moving average is $3.87 and its two-hundred day moving average is $6.69. Iovance Biotherapeutics, Inc. has a 12-month low of $2.70 and a 12-month high of $14.23.

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

About Iovance Biotherapeutics

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.