Rhenman & Partners Asset Management AB Purchases 182,948 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Rhenman & Partners Asset Management AB increased its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 17.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,235,448 shares of the biotechnology company’s stock after purchasing an additional 182,948 shares during the quarter. Rhenman & Partners Asset Management AB owned approximately 0.41% of Iovance Biotherapeutics worth $9,142,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. AlphaQuest LLC boosted its holdings 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 valued at $34,000 after buying an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Iovance Biotherapeutics in the fourth quarter worth about $36,000. Impact Partnership Wealth LLC bought a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at approximately $83,000. Kazazian Asset Management LLC purchased a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at approximately $84,000. Finally, Clear Creek Financial Management LLC bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $91,000. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Trading Down 7.7 %

NASDAQ:IOVA opened at $3.00 on Friday. The company has a 50 day simple moving average of $4.61 and a two-hundred day simple moving average of $7.33. The company has a market cap of $983.63 million, a PE ratio of -2.01 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a 12 month low of $2.95 and a 12 month high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued 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 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 analyst estimates of $72.17 million. Research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IOVA shares. Chardan Capital lowered their price objective 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. Robert W. Baird dropped their price target 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. Truist Financial cut their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group dropped 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. Finally, HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and an average price target of $20.25.

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.