Jennison Associates LLC Purchases New Shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Jennison Associates LLC purchased a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 66,568 shares of the biotechnology company’s stock, valued at approximately $493,000.

Several other large investors have also added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock valued at $123,967,000 after buying an additional 576,801 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of 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 buying an additional 1,496,941 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at $12,927,000. Rice Hall James & Associates LLC boosted its holdings in shares of Iovance Biotherapeutics by 2.6% during the 3rd quarter. Rice Hall James & Associates LLC now owns 1,679,157 shares of the biotechnology company’s stock valued at $15,767,000 after buying an additional 43,132 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of 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 buying an additional 328,284 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Insiders Place Their Bets

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the completion of the transaction, the director now owns 7,500 shares of the company’s stock, valued at approximately $75,450. The trade was a 86.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.10% of the stock is owned by insiders.

Iovance Biotherapeutics Price Performance

IOVA opened at $5.69 on Friday. The stock has a 50-day moving average price of $7.13 and a 200-day moving average price of $8.93. The firm has a market cap of $1.73 billion, a PE ratio of -3.82 and a beta of 0.54. Iovance Biotherapeutics, Inc. has a 1 year low of $5.52 and a 1 year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $58.56 million during the quarter, compared to analyst estimates of $53.54 million. During the same quarter in the previous year, the firm earned ($0.46) EPS. As a group, sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current year.

Analyst Upgrades and Downgrades

IOVA has been the topic of a number of research reports. UBS Group initiated coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $17.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. Finally, Piper Sandler lowered their price target on Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

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.