Nisa Investment Advisors LLC Boosts Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Nisa Investment Advisors LLC raised its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 284.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,541 shares of the biotechnology company’s stock after acquiring an additional 5,577 shares during the period. Nisa Investment Advisors LLC’s holdings in Iovance Biotherapeutics were worth $61,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Iovance Biotherapeutics by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,143,470 shares of the biotechnology company’s stock worth $100,753,000 after buying an additional 1,748,082 shares in the last quarter. BlackRock Inc. raised its stake in shares of Iovance Biotherapeutics by 36.5% during the 2nd quarter. BlackRock Inc. now owns 17,001,791 shares of the biotechnology company’s stock worth $119,693,000 after buying an additional 4,545,129 shares in the last quarter. Perceptive Advisors LLC raised its stake in shares of Iovance Biotherapeutics by 53.8% during the 1st quarter. Perceptive Advisors LLC now owns 15,339,735 shares of the biotechnology company’s stock worth $93,726,000 after buying an additional 5,367,955 shares in the last quarter. MHR Fund Management LLC purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $76,661,000. Finally, State Street Corp raised its stake in shares of Iovance Biotherapeutics by 71.9% during the 2nd quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company’s stock worth $129,949,000 after buying an additional 4,925,025 shares in the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iovance Biotherapeutics

In related news, Director Merrill A. Mcpeak bought 250,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of $9.15 per share, for a total transaction of $2,287,500.00. Following the acquisition, the director now owns 320,150 shares in the company, valued at $2,929,372.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.40% of the stock is owned by insiders.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA opened at $11.31 on Monday. The business’s fifty day moving average price is $13.88 and its two-hundred day moving average price is $8.97. The stock has a market cap of $3.16 billion, a PE ratio of -6.02 and a beta of 0.62. Iovance Biotherapeutics, Inc. has a one year low of $3.21 and a one year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.01). The business 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 posted ($0.64) EPS. As a group, equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IOVA has been the subject of a number of analyst reports. Barclays increased their target price on Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Thursday, February 29th. Wells Fargo & Company upped their price target on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Truist Financial restated a “buy” rating and issued a $17.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, December 27th. Finally, StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and an average price target of $24.64.

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.