Daiwa Securities Group Inc. Purchases 7,781 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Daiwa Securities Group Inc. raised its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 754.0% during the second quarter, HoldingsChannel.com reports. The fund owned 8,813 shares of the biotechnology company’s stock after buying an additional 7,781 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Iovance Biotherapeutics were worth $71,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of IOVA. ORG Partners LLC bought a new stake in Iovance Biotherapeutics during the second quarter valued at $32,000. Quest Partners LLC boosted its position in shares of Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 4,629 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Iovance Biotherapeutics by 1,227.8% during the 4th quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 4,678 shares in the last quarter. Abacus Planning Group Inc. bought a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth about $82,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Iovance Biotherapeutics during the 1st quarter worth about $87,000. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

IOVA opened at $10.42 on Wednesday. The firm has a market capitalization of $2.92 billion, a PE ratio of -5.79 and a beta of 0.63. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $18.33. The company’s 50-day moving average is $9.65 and its 200 day moving average is $10.84.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.01. The firm had revenue of $31.11 million during 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% on a year-over-year basis. During the same quarter last year, the business posted ($0.47) EPS. As a group, analysts expect that Iovance Biotherapeutics, Inc. will post -1.26 EPS for the current year.

Analyst Upgrades and Downgrades

IOVA has been the topic of a number of research analyst reports. Piper Sandler cut shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. JMP Securities cut their price objective on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, June 20th. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Finally, HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

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.