Cinctive Capital Management LP Takes $2.44 Million Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Cinctive Capital Management LP acquired a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 329,204 shares of the biotechnology company’s stock, valued at approximately $2,436,000. Cinctive Capital Management LP owned about 0.11% of Iovance Biotherapeutics as of its most recent SEC filing.

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

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $3.54 on Thursday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -2.38 and a beta of 1.05. The stock’s 50-day moving average is $4.74 and its 200 day moving average is $7.41. Iovance Biotherapeutics, Inc. has a one year low of $3.19 and a one year high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data 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 the consensus estimate of $72.17 million. On average, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Truist Financial lowered their target price on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Piper Sandler reduced their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Chardan Capital decreased their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Robert W. Baird reduced their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.25.

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.