Profund Advisors LLC Purchases 31,010 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Profund Advisors LLC grew its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 33.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 124,660 shares of the biotechnology company’s stock after purchasing an additional 31,010 shares during the quarter. Profund Advisors LLC’s holdings in Iovance Biotherapeutics were worth $1,000,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avoro Capital Advisors LLC lifted its position in 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 acquiring an additional 5,000,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Iovance Biotherapeutics by 9.2% during the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock valued at $369,245,000 after buying an additional 2,102,480 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Iovance Biotherapeutics by 60.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock worth $78,071,000 after buying an additional 1,991,262 shares in the last quarter. Norges Bank purchased a new position in Iovance Biotherapeutics in the 4th quarter worth about $9,109,000. Finally, Invenomic Capital Management LP bought a new position in Iovance Biotherapeutics during the 4th quarter valued at about $8,563,000. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $9.66 on Tuesday. The stock has a market cap of $2.70 billion, a P/E ratio of -5.37 and a beta of 0.63. The stock’s fifty day moving average is $9.85 and its 200 day moving average is $10.60. Iovance Biotherapeutics, Inc. has a one year low of $3.21 and a one year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.01. The firm had revenue of $31.11 million for the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was up 12969.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.47) earnings per share. Analysts predict that Iovance Biotherapeutics, Inc. will post -1.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IOVA. JMP Securities decreased their price objective on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a report on Thursday, June 20th. Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $10.00 in a research note on Monday, July 29th. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. Finally, StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.00.

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.