DnB Asset Management AS Grows Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

DnB Asset Management AS grew its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 27.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,778 shares of the biotechnology company’s stock after buying an additional 8,837 shares during the period. DnB Asset Management AS’s holdings in Iovance Biotherapeutics were worth $302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IOVA. AlphaQuest LLC increased its position in Iovance Biotherapeutics by 63.6% during the 4th 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 during the period. SBI Securities Co. Ltd. purchased a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at about $36,000. Impact Partnership Wealth LLC bought a new position in Iovance Biotherapeutics in the fourth quarter worth about $83,000. Kazazian Asset Management LLC purchased a new stake in Iovance Biotherapeutics in the fourth quarter worth about $84,000. Finally, Clear Creek Financial Management LLC bought a new stake in Iovance Biotherapeutics during the 4th quarter valued at approximately $91,000. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA opened at $3.54 on Thursday. The firm’s 50 day moving average price is $4.74 and its 200-day moving average price is $7.41. Iovance Biotherapeutics, Inc. has a 52-week low of $3.19 and a 52-week high of $14.23. The company has a market cap of $1.16 billion, a PE ratio of -2.38 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.26). The business had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. On average, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

IOVA has been the subject of several research reports. Piper Sandler decreased their target price 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. Robert W. Baird decreased their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Truist Financial dropped their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Finally, The Goldman Sachs Group lowered their price target on shares of Iovance Biotherapeutics from $22.00 to $19.00 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 issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

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.