Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC grew its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 23.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,630 shares of the biotechnology company’s stock after acquiring an additional 10,450 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Iovance Biotherapeutics were worth $404,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IOVA. AlphaQuest LLC lifted its position in Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after buying an additional 1,794 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at about $36,000. Impact Partnership Wealth LLC purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter worth about $83,000. Kazazian Asset Management LLC acquired a new stake in shares of Iovance Biotherapeutics in the fourth quarter worth approximately $84,000. Finally, Clear Creek Financial Management LLC purchased a new stake in Iovance Biotherapeutics in the fourth quarter valued at approximately $91,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IOVA. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Truist Financial cut their target price 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. Chardan Capital lowered their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Robert W. Baird cut their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Finally, The Goldman Sachs Group decreased their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics Trading Down 1.9 %

IOVA opened at $3.56 on Monday. Iovance Biotherapeutics, Inc. has a twelve month low of $3.33 and a twelve month high of $14.77. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -2.39 and a beta of 0.93. The company has a fifty day simple moving average of $4.89 and a 200 day simple moving average of $7.53.

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

Iovance Biotherapeutics Company 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.