Skandinaviska Enskilda Banken AB publ Grows Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 36.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,684 shares of the biotechnology company’s stock after purchasing an additional 41,732 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.05% of Iovance Biotherapeutics worth $1,115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC increased its stake in shares of Iovance Biotherapeutics by 63.6% during the fourth 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 in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $36,000. Impact Partnership Wealth LLC bought a new position in Iovance Biotherapeutics during the 4th quarter valued at approximately $83,000. Clear Creek Financial Management LLC purchased a new position in Iovance Biotherapeutics during the fourth quarter valued at $91,000. Finally, KBC Group NV boosted its holdings in Iovance Biotherapeutics by 105.7% in the fourth quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 6,321 shares in the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Trading Up 4.2 %

Shares of IOVA stock opened at $3.74 on Tuesday. Iovance Biotherapeutics, Inc. has a 12-month low of $3.48 and a 12-month high of $15.90. The stock has a market capitalization of $1.23 billion, a P/E ratio of -2.51 and a beta of 0.93. The firm’s 50 day moving average is $5.40 and its 200 day moving average is $7.96.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. As a group, equities analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IOVA. Robert W. Baird reduced their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. The Goldman Sachs Group decreased their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Chardan Capital cut their price target on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Piper Sandler reduced their price target 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. Finally, Truist Financial lowered their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

About Iovance Biotherapeutics

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.