Squarepoint Ops LLC Buys New Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Squarepoint Ops LLC purchased a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 257,543 shares of the biotechnology company’s stock, valued at approximately $2,065,000.

A number of other institutional investors have also recently made changes to their positions in IOVA. ORG Partners LLC purchased a new position in Iovance Biotherapeutics in the second quarter worth $32,000. Quest Partners LLC lifted its stake in Iovance Biotherapeutics by 1,237.7% during the second 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 during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Iovance Biotherapeutics in the 1st quarter worth about $87,000. EverSource Wealth Advisors LLC bought a new position in shares of Iovance Biotherapeutics during the 2nd quarter valued at about $58,000. Finally, Daiwa Securities Group Inc. raised its holdings 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 valued at $71,000 after buying an additional 7,781 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on IOVA. JMP Securities cut their target price 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. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Monday, August 12th. One 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $9.76 on Friday. The firm has a market cap of $2.73 billion, a PE ratio of -5.42 and a beta of 0.63. The company’s fifty day simple moving average is $9.95 and its two-hundred day simple moving average is $10.37. Iovance Biotherapeutics, Inc. has a 12-month low of $3.21 and a 12-month high of $18.33.

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

Iovance Biotherapeutics 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.