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

Magnetar Financial LLC acquired a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 14,623 shares of the biotechnology company’s stock, valued at approximately $108,000.

A number of other large investors have also recently made changes to their positions in IOVA. AlphaQuest LLC grew its holdings in Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth $36,000. Impact Partnership Wealth LLC acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter worth $83,000. Kazazian Asset Management LLC purchased a new position in Iovance Biotherapeutics in the fourth quarter valued at $84,000. Finally, Clear Creek Financial Management LLC acquired a new stake in Iovance Biotherapeutics in the fourth quarter valued at $91,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA opened at $3.54 on Monday. Iovance Biotherapeutics, Inc. has a one year low of $3.42 and a one year high of $15.50. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.38 and a beta of 0.93. The company has a 50-day simple moving average of $5.12 and a 200-day simple moving average of $7.75.

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

Wall Street Analysts Forecast Growth

IOVA has been the subject of several analyst reports. Truist Financial lowered their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Piper Sandler cut their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Chardan Capital reduced 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 report on Monday, March 3rd. The Goldman Sachs Group dropped their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.