GF Fund Management CO. LTD. Buys Shares of 6,400 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

GF Fund Management CO. LTD. acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 4th quarter, HoldingsChannel reports. The firm acquired 6,400 shares of the biotechnology company’s stock, valued at approximately $47,000.

A number of other hedge funds have also modified their holdings of IOVA. SG Americas Securities LLC acquired a new stake in Iovance Biotherapeutics during the fourth quarter valued at $515,000. Jennison Associates LLC acquired a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at about $493,000. Barclays PLC grew its stake in shares of Iovance Biotherapeutics by 118.8% in the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock valued at $5,677,000 after buying an additional 328,284 shares in the last quarter. Banque Pictet & Cie SA increased its holdings in Iovance Biotherapeutics by 17.0% in the fourth quarter. Banque Pictet & Cie SA now owns 376,591 shares of the biotechnology company’s stock worth $2,787,000 after buying an additional 54,832 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Iovance Biotherapeutics by 7.4% in the fourth quarter. Northern Trust Corp now owns 2,414,807 shares of the biotechnology company’s stock worth $17,870,000 after buying an additional 166,231 shares during the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Performance

Shares of IOVA opened at $1.78 on Tuesday. The company has a 50-day simple moving average of $2.94 and a 200-day simple moving average of $5.34. The firm has a market capitalization of $594.40 million, a P/E ratio of -1.19 and a beta of 1.06. Iovance Biotherapeutics, Inc. has a 52 week low of $1.64 and a 52 week high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.11). The firm had revenue of $49.32 million for the quarter, compared to analyst estimates of $83.40 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. Iovance Biotherapeutics’s revenue for the quarter was up 6795.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.42) EPS. As a group, equities analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IOVA. Citizens Jmp lowered Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a report on Friday, May 9th. HC Wainwright reduced their price objective on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Robert W. Baird lowered their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Chardan Capital dropped their target price on shares of Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, The Goldman Sachs Group decreased their price target on shares of Iovance Biotherapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Iovance Biotherapeutics currently has an average rating of “Hold” and an average target price of $13.30.

Iovance Biotherapeutics 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.