nVerses Capital LLC Acquires Shares of 15,800 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

nVerses Capital LLC bought a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 3rd quarter, HoldingsChannel reports. The fund bought 15,800 shares of the biotechnology company’s stock, valued at approximately $148,000.

Other hedge funds also recently modified their holdings of the company. ORG Partners LLC bought a new stake in Iovance Biotherapeutics during the second quarter worth about $32,000. Quest Partners LLC raised its position in shares of Iovance Biotherapeutics by 1,237.7% in the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 4,629 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $58,000. Daiwa Securities Group Inc. boosted its position in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 7,781 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new position in Iovance Biotherapeutics in the second quarter valued at approximately $82,000. Institutional investors own 77.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on IOVA. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. Finally, Piper Sandler cut shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $10.00 in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Iovance Biotherapeutics Trading Up 0.7 %

NASDAQ:IOVA opened at $10.24 on Friday. The stock’s 50-day moving average is $10.27 and its 200-day moving average is $9.98. Iovance Biotherapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $18.33. The stock has a market cap of $2.87 billion, a P/E ratio of -5.69 and a beta of 0.62.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted 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. The firm had revenue of $31.11 million for the quarter, compared to analyst estimates of $24.59 million. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. The company’s revenue for the quarter was up 12969.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) EPS. As a group, equities analysts forecast that Iovance Biotherapeutics, Inc. will post -1.26 EPS for the current year.

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.