Sciencast Management LP Takes $100,000 Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Sciencast Management LP purchased a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 13,569 shares of the biotechnology company’s stock, valued at approximately $100,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of IOVA. GSA Capital Partners LLP acquired a new stake in shares of Iovance Biotherapeutics during the 3rd quarter valued at approximately $242,000. Victory Capital Management Inc. lifted its position in shares of Iovance Biotherapeutics by 399.4% during the 3rd quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock valued at $1,355,000 after acquiring an additional 115,387 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Iovance Biotherapeutics during the 3rd quarter valued at approximately $920,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Iovance Biotherapeutics during the 3rd quarter valued at approximately $615,000. Finally, Algert Global LLC lifted its position in shares of Iovance Biotherapeutics by 53.2% during the 3rd quarter. Algert Global LLC now owns 54,070 shares of the biotechnology company’s stock valued at $508,000 after acquiring an additional 18,784 shares during the period. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IOVA. The Goldman Sachs Group dropped their price objective on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Chardan Capital dropped their price objective on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Robert W. Baird dropped their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Finally, Piper Sandler dropped 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 note on Friday, February 28th. One equities 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 stock. According to data from MarketBeat.com, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Iovance Biotherapeutics Stock Performance

IOVA stock opened at $3.54 on Monday. The stock has a market capitalization of $1.16 billion, a P/E ratio of -2.38 and a beta of 0.93. Iovance Biotherapeutics, Inc. has a one year low of $3.42 and a one year high of $15.50. The company has a 50 day moving average price of $5.12 and a two-hundred day moving average price of $7.75.

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

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.