Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stock Position Lifted by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. boosted its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 48.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,912 shares of the biotechnology company’s stock after buying an additional 13,310 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Iovance Biotherapeutics were worth $328,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. ORG Partners LLC acquired a new stake in Iovance Biotherapeutics during the second quarter valued at $32,000. Quest Partners LLC raised its stake 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 raised its stake 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. Daiwa Securities Group Inc. raised its stake 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 purchasing an additional 7,781 shares in the last quarter. Finally, Abacus Planning Group Inc. purchased a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth about $82,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Analyst Ratings Changes

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

Iovance Biotherapeutics Stock Performance

Shares of IOVA stock opened at $10.17 on Thursday. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -5.65 and a beta of 0.63. The stock’s 50 day simple moving average is $9.76 and its 200 day simple moving average is $10.79. Iovance Biotherapeutics, Inc. has a twelve month low of $3.21 and a twelve month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating 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 return on equity of 65.04% and a negative net margin of 1,343.27%. The company’s revenue was up 12969.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.47) EPS. On average, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.26 EPS for the current fiscal year.

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.