11,400 Shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Purchased by Kazazian Asset Management LLC

Kazazian Asset Management LLC acquired a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,400 shares of the biotechnology company’s stock, valued at approximately $84,000.

A number of other large investors have also modified their holdings of IOVA. GSA Capital Partners LLP acquired a new stake in shares of Iovance Biotherapeutics in the 3rd quarter worth about $242,000. Victory Capital Management Inc. increased its stake in 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 buying an additional 115,387 shares during the period. Grandfield & Dodd LLC acquired a new position in Iovance Biotherapeutics during the 3rd quarter valued at about $282,000. Intech Investment Management LLC acquired a new position in Iovance Biotherapeutics during the 3rd quarter valued at about $920,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Iovance Biotherapeutics during the 3rd quarter valued at about $615,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Chardan Capital lowered their target price on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Truist Financial lowered their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Piper Sandler lowered 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 note on Friday, February 28th. Robert W. Baird lowered their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Finally, The Goldman Sachs Group lowered their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.25.

Iovance Biotherapeutics Price Performance

Shares of IOVA opened at $3.57 on Wednesday. Iovance Biotherapeutics, Inc. has a 12-month low of $3.48 and a 12-month high of $15.90. The firm’s 50 day moving average is $5.32 and its 200-day moving average is $7.91. The stock has a market capitalization of $1.17 billion, a P/E ratio of -2.40 and a beta of 0.93.

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