Carnegie Capital Asset Management LLC Increases Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Carnegie Capital Asset Management LLC increased its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 17.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 27,400 shares of the biotechnology company’s stock after acquiring an additional 4,000 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Iovance Biotherapeutics were worth $223,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IOVA. MHR Fund Management LLC purchased a new stake in Iovance Biotherapeutics in the 4th quarter worth about $76,661,000. Perceptive Advisors LLC increased its holdings in Iovance Biotherapeutics by 53.8% in the 1st quarter. Perceptive Advisors LLC now owns 15,339,735 shares of the biotechnology company’s stock worth $93,726,000 after acquiring an additional 5,367,955 shares during the last quarter. State Street Corp increased its holdings in Iovance Biotherapeutics by 71.9% in the 2nd quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company’s stock worth $129,949,000 after acquiring an additional 4,925,025 shares during the last quarter. BlackRock Inc. increased its holdings in Iovance Biotherapeutics by 36.5% in the 2nd quarter. BlackRock Inc. now owns 17,001,791 shares of the biotechnology company’s stock worth $119,693,000 after acquiring an additional 4,545,129 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Iovance Biotherapeutics by 374.2% in the 4th quarter. Morgan Stanley now owns 4,969,869 shares of the biotechnology company’s stock worth $31,757,000 after acquiring an additional 3,921,869 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on IOVA. Barclays lifted their target price on Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Chardan Capital boosted their price objective on Iovance Biotherapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group boosted their price objective on Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Piper Sandler boosted their price objective on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Finally, StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.64.

Insider Buying and Selling

In other news, Director Merrill A. Mcpeak purchased 250,000 shares of Iovance Biotherapeutics stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average cost of $9.15 per share, with a total value of $2,287,500.00. Following the completion of the purchase, the director now directly owns 320,150 shares in the company, valued at $2,929,372.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.40% of the stock is owned by insiders.

Iovance Biotherapeutics Price Performance

IOVA opened at $11.80 on Thursday. Iovance Biotherapeutics, Inc. has a 52-week low of $3.21 and a 52-week high of $18.33. The stock’s 50 day moving average price is $13.77 and its 200-day moving average price is $8.84.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.01). The firm had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $1.44 million. During the same quarter in the previous year, the business earned ($0.64) earnings per share. As a group, sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.4 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.