Bank of New York Mellon Corp Buys 200,536 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Bank of New York Mellon Corp grew its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 24.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,034,760 shares of the biotechnology company’s stock after acquiring an additional 200,536 shares during the period. Bank of New York Mellon Corp’s holdings in Iovance Biotherapeutics were worth $8,299,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Diversified Trust Co raised its position in Iovance Biotherapeutics by 9.5% in the second quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 1,469 shares during the last quarter. Pale Fire Capital SE raised its holdings in Iovance Biotherapeutics by 12.7% in the 4th quarter. Pale Fire Capital SE now owns 17,024 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 1,924 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in Iovance Biotherapeutics by 15.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company’s stock valued at $157,000 after buying an additional 2,688 shares during the last quarter. American International Group Inc. boosted its position in Iovance Biotherapeutics by 2.6% during the 1st quarter. American International Group Inc. now owns 116,951 shares of the biotechnology company’s stock worth $1,733,000 after buying an additional 2,941 shares during the period. Finally, ORG Partners LLC bought a new stake in Iovance Biotherapeutics during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Down 6.9 %

IOVA stock opened at $9.18 on Wednesday. The firm has a market cap of $2.57 billion, a PE ratio of -5.10 and a beta of 0.62. The stock has a 50-day moving average price of $9.46 and a 200-day moving average price of $11.04. Iovance Biotherapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The business had revenue of $31.11 million during the quarter, compared to the consensus estimate of $24.59 million. During the same period in the previous year, the company posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 12969.7% on a year-over-year basis. On average, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $19.00 to $10.00 in a research note on Monday, July 29th. JMP Securities lowered their target price on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a research report on Thursday, June 20th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Monday, August 12th. Finally, StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Iovance Biotherapeutics Company 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.