Virtu Financial LLC Takes Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Virtu Financial LLC bought a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 63,276 shares of the biotechnology company’s stock, valued at approximately $468,000.

A number of other institutional investors have also recently made changes to their positions in IOVA. AlphaQuest LLC boosted its position 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 buying an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Iovance Biotherapeutics in the fourth quarter worth approximately $36,000. Impact Partnership Wealth LLC bought a new position in Iovance Biotherapeutics in the fourth quarter worth approximately $83,000. Kazazian Asset Management LLC purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter worth $84,000. Finally, Clear Creek Financial Management LLC purchased a new position in Iovance Biotherapeutics during the fourth quarter valued at $91,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

IOVA opened at $3.48 on Wednesday. The stock’s 50 day moving average price is $5.03 and its 200-day moving average price is $7.66. Iovance Biotherapeutics, Inc. has a one year low of $3.42 and a one year high of $15.18. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -2.34 and a beta of 0.93.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IOVA. Robert W. Baird cut their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. The Goldman Sachs Group cut their price target on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Truist Financial decreased their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, Piper Sandler lowered their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company 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.