Bank of New York Mellon Corp Purchases 23,865 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Bank of New York Mellon Corp raised its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 865,834 shares of the biotechnology company’s stock after buying an additional 23,865 shares during the quarter. Bank of New York Mellon Corp’s holdings in Iovance Biotherapeutics were worth $6,407,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Impact Partnership Wealth LLC acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at about $83,000. Clear Creek Financial Management LLC acquired a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth about $91,000. KBC Group NV increased its stake in 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 buying an additional 6,321 shares during the last quarter. DRW Securities LLC purchased a new stake in Iovance Biotherapeutics in the 3rd quarter valued at about $121,000. Finally, Assetmark Inc. increased its stake in Iovance Biotherapeutics by 48.0% in the 3rd quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company’s stock valued at $121,000 after buying an additional 4,167 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Truist Financial reduced their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Chardan Capital dropped their price objective 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. Robert W. Baird lowered 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 note on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Finally, Piper Sandler lowered their price objective 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. One equities 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Iovance Biotherapeutics Stock Performance

Shares of IOVA opened at $3.59 on Monday. The stock has a market cap of $1.18 billion, a PE ratio of -2.41 and a beta of 0.93. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.48 and a fifty-two week high of $15.90. The firm’s 50-day simple moving average is $5.47 and its two-hundred day simple moving average is $8.02.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). The firm 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%. Equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current 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.