Arizona State Retirement System Boosts Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Arizona State Retirement System raised its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 61,658 shares of the biotechnology company’s stock after acquiring an additional 5,255 shares during the quarter. Arizona State Retirement System’s holdings in Iovance Biotherapeutics were worth $456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Iovance Biotherapeutics by 4.6% during the third quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock valued at $123,967,000 after purchasing an additional 576,801 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Iovance Biotherapeutics by 59.0% in the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after buying an additional 1,496,941 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Iovance Biotherapeutics by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,989,340 shares of the biotechnology company’s stock worth $14,721,000 after buying an additional 76,196 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $12,927,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Iovance Biotherapeutics by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 865,834 shares of the biotechnology company’s stock worth $6,407,000 after buying an additional 23,865 shares in the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IOVA. The Goldman Sachs Group decreased their price target on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. 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 note on Friday, February 28th. Chardan Capital decreased their price target on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Finally, Piper Sandler cut their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. One 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics Trading Up 2.0 %

Iovance Biotherapeutics stock opened at $3.59 on Friday. Iovance Biotherapeutics, Inc. has a 12-month low of $3.48 and a 12-month high of $15.90. The stock has a market cap of $1.18 billion, a P/E ratio of -2.41 and a beta of 0.93. The company has a 50-day moving average price of $5.55 and a 200 day moving average price of $8.12.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly 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). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The business had revenue of $73.69 million during the quarter, compared to analysts’ expectations of $72.17 million. As a group, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current 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.