Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 9.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 366,775 shares of the biotechnology company’s stock after acquiring an additional 30,794 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.11% of Iovance Biotherapeutics worth $1,221,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Iovance Biotherapeutics by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company’s stock valued at $203,754,000 after acquiring an additional 220,373 shares during the last quarter. Hood River Capital Management LLC increased its holdings in shares of Iovance Biotherapeutics by 10.4% during the 4th quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock worth $66,538,000 after buying an additional 846,936 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Iovance Biotherapeutics by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock worth $43,458,000 after buying an additional 222,425 shares during the last quarter. Long Focus Capital Management LLC increased its holdings in shares of Iovance Biotherapeutics by 13.2% during the 4th quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company’s stock worth $37,977,000 after buying an additional 600,000 shares during the last quarter. Finally, MPM Bioimpact LLC increased its holdings in shares of Iovance Biotherapeutics by 11.1% during the 4th quarter. MPM Bioimpact LLC now owns 2,673,905 shares of the biotechnology company’s stock worth $19,787,000 after buying an additional 267,191 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA opened at $2.05 on Friday. The firm has a 50-day moving average of $2.64 and a two-hundred day moving average of $4.95. The stock has a market cap of $684.56 million, a P/E ratio of -1.38 and a beta of 1.06. Iovance Biotherapeutics, Inc. has a 1-year low of $1.64 and a 1-year high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The firm had revenue of $49.32 million during the quarter, compared to analysts’ expectations of $83.40 million. During the same period in the previous year, the company earned ($0.42) earnings per share. The business’s quarterly revenue was up 6795.1% on a year-over-year basis. As a group, equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Analysts Set New Price Targets

IOVA has been the subject of a number of research analyst reports. Chardan Capital dropped their price objective on Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a report on Friday, May 9th. Citizens Jmp downgraded Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a report on Friday, May 9th. Barclays lowered their price target on Iovance Biotherapeutics from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, May 12th. JMP Securities reiterated a “market perform” rating on shares of Iovance Biotherapeutics in a report on Friday, May 9th. Finally, Truist Financial downgraded Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Iovance Biotherapeutics presently has a consensus rating of “Hold” and an average target price of $13.30.

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.