Virtu Financial LLC Invests $468,000 in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Virtu Financial LLC bought a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 4th quarter, Holdings Channel.com reports. The fund bought 63,276 shares of the biotechnology company’s stock, valued at approximately $468,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sciencast Management LP bought a new position in Iovance Biotherapeutics in the fourth quarter worth about $100,000. Magnetar Financial LLC purchased a new stake in Iovance Biotherapeutics during the 4th quarter worth approximately $108,000. Teacher Retirement System of Texas increased its position in shares of Iovance Biotherapeutics by 28.3% in the 4th quarter. Teacher Retirement System of Texas now owns 63,025 shares of the biotechnology company’s stock valued at $466,000 after acquiring an additional 13,895 shares during the period. Kazazian Asset Management LLC acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at about $84,000. Finally, Xponance Inc. lifted its holdings in shares of Iovance Biotherapeutics by 18.5% during the fourth quarter. Xponance Inc. now owns 19,607 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 3,066 shares during the period. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial dropped their price objective 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. Piper Sandler decreased their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Chardan Capital cut their price target on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Robert W. Baird reduced their price target on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.25.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $3.48 on Wednesday. Iovance Biotherapeutics, Inc. has a one year low of $3.42 and a one year high of $15.18. The business’s 50 day moving average price is $5.03 and its 200 day moving average price is $7.66. The company 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 issued its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. On average, analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

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.