99,605 Shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 99,605 shares of the biotechnology company’s stock, valued at approximately $799,000.

Several other hedge funds have also recently bought and sold shares of the company. Avoro Capital Advisors LLC increased its stake in shares of Iovance Biotherapeutics by 74.6% in the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock valued at $173,394,000 after purchasing an additional 5,000,000 shares during the last quarter. Vanguard Group Inc. grew its position in Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock valued at $369,245,000 after acquiring an additional 2,102,480 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Iovance Biotherapeutics by 60.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock worth $78,071,000 after acquiring an additional 1,991,262 shares in the last quarter. Norges Bank bought a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $9,109,000. Finally, Invenomic Capital Management LP acquired a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $8,563,000. 77.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

IOVA has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. Finally, JMP Securities dropped 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Iovance Biotherapeutics has an average rating of “Moderate Buy” and an average target price of $23.00.

Iovance Biotherapeutics Trading Down 1.9 %

Shares of IOVA stock opened at $10.15 on Friday. The stock has a 50-day moving average of $9.83 and a 200-day moving average of $10.70. 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 $2.84 billion, a price-to-earnings ratio of -5.64 and a beta of 0.63.

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