Deutsche Bank AG Boosts Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Deutsche Bank AG raised its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 14.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 867,576 shares of the biotechnology company’s stock after acquiring an additional 112,095 shares during the period. Deutsche Bank AG owned 0.28% of Iovance Biotherapeutics worth $6,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $12,927,000. Raymond James Financial Inc. acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $11,568,000. Marshall Wace LLP purchased a new stake in Iovance Biotherapeutics in the 4th quarter valued at $8,365,000. B Group Inc. purchased a new stake in Iovance Biotherapeutics in the 4th quarter valued at $7,341,000. Finally, Hood River Capital Management LLC boosted its stake in Iovance Biotherapeutics by 10.4% during the 4th quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock worth $66,538,000 after purchasing an additional 846,936 shares during the period. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IOVA shares. Robert W. Baird dropped their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. HC Wainwright reduced their price objective on Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Truist Financial cut Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. Mizuho dropped their target price on Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating on the stock in a report on Monday, May 12th. Finally, Chardan Capital cut their price target on Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.30.

Iovance Biotherapeutics Stock Down 5.7%

Shares of NASDAQ IOVA opened at $1.66 on Friday. The firm has a 50-day moving average price of $3.16 and a 200 day moving average price of $5.78. Iovance Biotherapeutics, Inc. has a 52 week low of $1.64 and a 52 week high of $12.51. The stock has a market capitalization of $554.33 million, a price-to-earnings ratio of -1.11 and a beta of 1.06.

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