5 Best Healthcare Stocks to Buy Under $20

4. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Number of Hedge Fund Holders: 34

Share Price: $12.3

Piper Sandler analysts hold an Overweight rating and $19 price target on Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) as of March 14.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a biotech company based in San Carlos, California. It develops cell therapies using autologous tumor infiltrating lymphocytes to treat metastatic melanoma and other solid tumor cancers.

In total, 34 hedge funds were long Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the fourth quarter, with a total stake value of $554.9 million.

Aristotle Atlantic Partners, LLC made the following comments about Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in its third quarter 2023 investor letter:

“We sold Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) following uncertainty which arose from the company canceling out of two investor events. Iovance is in the late stages of FDA review on their lead candidate Lifileucel in advanced melanoma. These cancellations could stem from issues with site inspections which tend to take place later in the review cycle. The company has not commented on why it canceled these investor events, and we do not think this bodes well for the prospects of a straightforward approval with a clean, positive label for the company.”