Cinctive Capital Management LP Acquires Shares of 329,204 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Cinctive Capital Management LP acquired a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 329,204 shares of the biotechnology company’s stock, valued at approximately $2,436,000.

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

Iovance Biotherapeutics Trading Up 8.9 %

IOVA stock opened at $3.54 on Thursday. The stock has a market cap of $1.16 billion, a P/E ratio of -2.38 and a beta of 1.05. The stock’s fifty day simple moving average is $4.74 and its two-hundred day simple moving average is $7.41. Iovance Biotherapeutics, Inc. has a 1-year low of $3.19 and a 1-year high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.26). The company 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%. As a group, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on IOVA shares. Piper Sandler decreased their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 28th. Chardan Capital decreased their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Truist Financial dropped their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Finally, Robert W. Baird lowered their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report 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 given a buy rating to the company. Based on data from MarketBeat, Iovance Biotherapeutics 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.