Assetmark Inc. Purchases 3,166 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Posted by Defense World Staff on Aug 16th, 2023

Assetmark Inc. increased its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Free Report) by 299.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,223 shares of the biotechnology company’s stock after purchasing an additional 3,166 shares during the quarter. Assetmark Inc.’s holdings in Iovance Biotherapeutics were worth $26,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IOVA. MHR Fund Management LLC bought a new stake in Iovance Biotherapeutics during the fourth quarter worth about $76,661,000. State Street Corp lifted its position in Iovance Biotherapeutics by 71.9% during the second quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company’s stock worth $129,949,000 after purchasing an additional 4,925,025 shares during the period. Morgan Stanley lifted its position in Iovance Biotherapeutics by 374.2% during the fourth quarter. Morgan Stanley now owns 4,969,869 shares of the biotechnology company’s stock worth $31,757,000 after purchasing an additional 3,921,869 shares during the period. Norges Bank bought a new stake in Iovance Biotherapeutics during the fourth quarter worth about $19,009,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Iovance Biotherapeutics by 295.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,200,900 shares of the biotechnology company’s stock worth $20,454,000 after acquiring an additional 2,392,300 shares during the last quarter. Institutional investors own 89.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IOVA. Chardan Capital reissued a “buy” rating and issued a $29.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, August 9th. HC Wainwright reissued a “buy” rating and issued a $38.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, August 9th. Stifel Nicolaus increased their target price on shares of Iovance Biotherapeutics from $21.00 to $24.00 in a report on Tuesday, May 30th. Robert W. Baird dropped their target price on shares of Iovance Biotherapeutics from $23.00 to $20.00 in a report on Wednesday, August 9th. Finally, StockNews.com cut shares of Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.82.

Get Our Latest Report on IOVA

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $7.51 on Wednesday. The business has a 50 day moving average of $7.63 and a 200-day moving average of $7.17. Iovance Biotherapeutics, Inc. has a 1 year low of $5.28 and a 1 year high of $13.32. The company has a market capitalization of $1.86 billion, a P/E ratio of -3.35 and a beta of 0.10.

Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.34. The firm had revenue of $0.24 million during the quarter, compared to analyst estimates of $3.91 million. During the same period in the prior year, the company earned ($0.63) EPS. Equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -2.04 EPS for the current year.

Iovance Biotherapeutics Company Profile

(Free Report)

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.