Teachers Retirement System of The State of Kentucky boosted its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Rating) by 25.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 271,204 shares of the biotechnology company's stock after acquiring an additional 55,271 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.17% of Iovance Biotherapeutics worth $4,516,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in IOVA. Raymond James & Associates grew its stake in Iovance Biotherapeutics by 21.8% in the 4th quarter. Raymond James & Associates now owns 10,036 shares of the biotechnology company's stock valued at $192,000 after acquiring an additional 1,797 shares during the period. Dimensional Fund Advisors LP grew its stake in Iovance Biotherapeutics by 167.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 884,481 shares of the biotechnology company's stock valued at $16,886,000 after acquiring an additional 553,559 shares during the period. Principal Financial Group Inc. boosted its stake in Iovance Biotherapeutics by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 561,587 shares of the biotechnology company's stock worth $10,721,000 after purchasing an additional 14,720 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Iovance Biotherapeutics by 24.7% during the 4th quarter. Teacher Retirement System of Texas now owns 23,627 shares of the biotechnology company's stock worth $451,000 after purchasing an additional 4,681 shares during the last quarter. Finally, TD Asset Management Inc. boosted its stake in Iovance Biotherapeutics by 5.5% during the 4th quarter. TD Asset Management Inc. now owns 138,724 shares of the biotechnology company's stock worth $2,648,000 after purchasing an additional 7,280 shares during the last quarter.
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Several brokerages have issued reports on IOVA. Piper Sandler lowered their target price on shares of Iovance Biotherapeutics from $20.00 to $13.00 and set a "neutral" rating on the stock in a research note on Friday, May 27th. Truist Financial lowered their target price on shares of Iovance Biotherapeutics to $18.00 in a research note on Tuesday, August 23rd. The Goldman Sachs Group lowered their target price on shares of Iovance Biotherapeutics from $64.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, July 1st. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $14.00 target price on shares of Iovance Biotherapeutics in a research note on Thursday, August 18th. Finally, JMP Securities reissued a "buy" rating and set a $25.00 price target on shares of Iovance Biotherapeutics in a research report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.80.
Iovance Biotherapeutics Trading Down 8.7 %
Shares of IOVA opened at $10.84 on Monday. The firm has a market cap of $1.70 billion, a P/E ratio of -4.54 and a beta of 0.50. Iovance Biotherapeutics, Inc. has a 12-month low of $6.18 and a 12-month high of $27.96. The company's 50-day moving average price is $11.78 and its 200 day moving average price is $12.82.Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the previous year, the firm posted ($0.53) EPS. Equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -2.53 earnings per share for the current year.
Iovance Biotherapeutics Company Profile
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Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. It has six ongoing phase 2 clinical studies, including C-144-01, of its lead product candidate, lifileucel, for the treatment of metastatic melanoma; C-145-04, of its product candidate lifileucel for recurrent, metastatic, or persistent cervical cancer; and C-145-03, of its product candidate LN-145, for recurrent and/or metastatic head and neck squamous cell carcinoma.
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