Geode Capital Management LLC Buys 222,425 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Geode Capital Management LLC boosted its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,871,420 shares of the biotechnology company’s stock after purchasing an additional 222,425 shares during the quarter. Geode Capital Management LLC’s holdings in Iovance Biotherapeutics were worth $43,458,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IOVA. AlphaQuest LLC raised its stake in shares of Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Iovance Biotherapeutics in the fourth quarter worth $36,000. Impact Partnership Wealth LLC acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter worth $83,000. Kazazian Asset Management LLC purchased a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at $84,000. Finally, Clear Creek Financial Management LLC acquired a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth $91,000. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Trading Up 3.3 %

Shares of NASDAQ IOVA opened at $3.41 on Tuesday. The company has a 50 day simple moving average of $4.15 and a two-hundred day simple moving average of $6.94. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -2.29 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a 12 month low of $2.70 and a 12 month high of $14.23.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on IOVA shares. The Goldman Sachs Group reduced their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Robert W. Baird decreased 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 report on Friday, February 28th. Piper Sandler dropped their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Barclays cut their price target on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.56.

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.