Grimes & Company Inc. Has $433,000 Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Grimes & Company Inc. lessened its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 16.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 29,250 shares of the biotechnology company’s stock after selling 5,748 shares during the period. Grimes & Company Inc.’s holdings in Iovance Biotherapeutics were worth $433,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Iovance Biotherapeutics by 42.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 407,429 shares of the biotechnology company’s stock valued at $6,038,000 after purchasing an additional 121,395 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 22,812,820 shares of the biotechnology company’s stock valued at $185,468,000 after purchasing an additional 669,350 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Iovance Biotherapeutics by 15.0% in the fourth quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company’s stock valued at $157,000 after purchasing an additional 2,688 shares in the last quarter. Opaleye Management Inc. lifted its holdings in shares of Iovance Biotherapeutics by 47.0% in the fourth quarter. Opaleye Management Inc. now owns 897,000 shares of the biotechnology company’s stock valued at $7,293,000 after purchasing an additional 287,000 shares in the last quarter. Finally, Invenomic Capital Management LP bought a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $8,563,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 0.1 %

Shares of NASDAQ IOVA traded up $0.01 during mid-day trading on Friday, hitting $8.02. The company had a trading volume of 20,652,193 shares, compared to its average volume of 7,276,264. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -4.46 and a beta of 0.80. Iovance Biotherapeutics, Inc. has a 1 year low of $3.21 and a 1 year high of $18.33. The stock’s 50-day moving average price is $10.02 and its 200-day moving average price is $10.79.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The firm had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $1.99 million. During the same period in the prior year, the business earned ($0.50) EPS. The company’s revenue for the quarter was up 71400.0% compared to the same quarter last year. As a group, equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JMP Securities dropped their price target on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, June 20th. Wells Fargo & Company lifted 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. Piper Sandler boosted their target price on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Finally, HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Moderate Buy” and an average price target of $24.45.

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.