Kennondale Capital Management LLC Purchases Shares of 52,769 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Kennondale Capital Management LLC purchased a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 52,769 shares of the biotechnology company’s stock, valued at approximately $390,000.

A number of other hedge funds have also bought and sold shares of the stock. AlphaQuest LLC boosted its holdings in shares of Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at $36,000. Impact Partnership Wealth LLC purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at $83,000. Clear Creek Financial Management LLC purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at $91,000. Finally, KBC Group NV boosted its holdings in shares of Iovance Biotherapeutics by 105.7% in the 4th quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 6,321 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Robert W. Baird dropped their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Piper Sandler dropped their price objective 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. The Goldman Sachs Group lowered their price target on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Truist Financial lowered their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Iovance Biotherapeutics Stock Up 4.2 %

IOVA opened at $3.74 on Tuesday. The firm’s fifty day simple moving average is $5.40 and its two-hundred day simple moving average is $7.96. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -2.51 and a beta of 0.93. Iovance Biotherapeutics, Inc. has a 52-week low of $3.48 and a 52-week high of $15.90.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). The business had revenue of $73.69 million during the quarter, compared to analysts’ expectations 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, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

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.