Arete Wealth Advisors LLC Sells 8,850 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Arete Wealth Advisors LLC trimmed its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 25.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,750 shares of the biotechnology company’s stock after selling 8,850 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Iovance Biotherapeutics were worth $191,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cinctive Capital Management LP purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $2,436,000. Headlands Technologies LLC purchased a new position in Iovance Biotherapeutics during the fourth quarter valued at approximately $190,000. Geode Capital Management LLC lifted its holdings in Iovance Biotherapeutics by 3.9% during the fourth 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 period. Alliancebernstein L.P. boosted its position in Iovance Biotherapeutics by 21.3% during the 4th quarter. Alliancebernstein L.P. now owns 765,399 shares of the biotechnology company’s stock valued at $5,664,000 after acquiring an additional 134,269 shares in the last quarter. Finally, Pier 88 Investment Partners LLC grew its stake in Iovance Biotherapeutics by 23.7% in the fourth quarter. Pier 88 Investment Partners LLC now owns 54,630 shares of the biotechnology company’s stock valued at $404,000 after purchasing an additional 10,450 shares during the last quarter. 77.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Chardan Capital reduced 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. The Goldman Sachs Group cut their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Truist Financial cut their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics Price Performance

IOVA opened at $3.03 on Tuesday. The company’s 50 day simple moving average is $4.55 and its two-hundred day simple moving average is $7.24. The firm has a market capitalization of $993.47 million, a price-to-earnings ratio of -2.03 and a beta of 1.05. Iovance Biotherapeutics, Inc. has a 1-year low of $2.70 and a 1-year high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, meeting the consensus estimate of ($0.26). The company had revenue of $73.69 million for the quarter, compared to analyst estimates of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. On average, equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

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.