Raymond James Financial Inc. Invests $11.57 Million in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Raymond James Financial Inc. acquired a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,563,296 shares of the biotechnology company’s stock, valued at approximately $11,568,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Iovance Biotherapeutics in the 4th quarter worth approximately $36,000. Impact Partnership Wealth LLC acquired a new stake in Iovance Biotherapeutics in the 4th quarter worth approximately $83,000. Clear Creek Financial Management LLC acquired a new stake in Iovance Biotherapeutics in the 4th quarter worth approximately $91,000. KBC Group NV boosted 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 worth $91,000 after purchasing an additional 6,321 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in Iovance Biotherapeutics in the 3rd quarter worth approximately $121,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Down 0.6 %

Shares of IOVA opened at $3.54 on Friday. Iovance Biotherapeutics, Inc. has a 12-month low of $3.48 and a 12-month high of $15.90. The firm has a 50-day moving average price of $5.18 and a 200 day moving average price of $7.85. The firm has a market capitalization of $1.16 billion, a P/E ratio of -2.38 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. Equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IOVA has been the subject of several research reports. Chardan Capital decreased their price objective on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Robert W. Baird decreased their target price 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. The Goldman Sachs Group decreased their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.25.

About Iovance Biotherapeutics

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.