Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lifted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 673.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 577,265 shares of the biotechnology company’s stock after acquiring an additional 502,673 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Iovance Biotherapeutics were worth $4,272,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IOVA. Assenagon Asset Management S.A. acquired a new position in Iovance Biotherapeutics in the fourth quarter worth approximately $12,927,000. Raymond James Financial Inc. acquired a new position in Iovance Biotherapeutics in the fourth quarter worth approximately $11,568,000. Marshall Wace LLP acquired a new position in Iovance Biotherapeutics in the fourth quarter worth approximately $8,365,000. B Group Inc. acquired a new position in Iovance Biotherapeutics in the fourth quarter worth approximately $7,341,000. Finally, Hood River Capital Management LLC grew its position in Iovance Biotherapeutics by 10.4% in the fourth quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock worth $66,538,000 after buying an additional 846,936 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on IOVA shares. Baird R W lowered shares of Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Citizens Jmp lowered shares of Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a research report on Friday, May 9th. Mizuho lowered their price objective on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating on the stock in a research report on Monday. HC Wainwright lowered their price objective on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, Truist Financial cut shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.80.

Iovance Biotherapeutics Stock Down 4.7%

Shares of NASDAQ:IOVA opened at $1.71 on Thursday. The firm has a fifty day moving average of $3.24 and a two-hundred day moving average of $5.95. The firm has a market capitalization of $569.36 million, a P/E ratio of -1.14 and a beta of 1.06. Iovance Biotherapeutics, Inc. has a 12-month low of $1.65 and a 12-month high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). The company had revenue of $49.32 million for the quarter, compared to analyst estimates of $83.40 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company’s quarterly revenue was up 6795.1% on a year-over-year basis. During the same period last year, the business earned ($0.42) EPS. Equities research analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal 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.