B. Riley Wealth Advisors Inc. Makes New Investment in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

B. Riley Wealth Advisors Inc. bought a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 13,296 shares of the biotechnology company’s stock, valued at approximately $107,000.

Several other hedge funds have also recently made changes to their positions in IOVA. Diversified Trust Co raised its stake in shares of Iovance Biotherapeutics by 9.5% in the second quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company’s stock valued at $136,000 after acquiring an additional 1,469 shares during the period. Xponance Inc. raised its holdings in Iovance Biotherapeutics by 13.0% in the second quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 1,873 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Iovance Biotherapeutics by 3.8% during the second quarter. Arizona State Retirement System now owns 54,734 shares of the biotechnology company’s stock valued at $439,000 after buying an additional 1,985 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Iovance Biotherapeutics by 15.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company’s stock valued at $157,000 after buying an additional 2,688 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in shares of Iovance Biotherapeutics by 2.6% in the 1st quarter. American International Group Inc. now owns 116,951 shares of the biotechnology company’s stock valued at $1,733,000 after buying an additional 2,941 shares in the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Price Performance

IOVA stock opened at $9.47 on Friday. The firm’s fifty day simple moving average is $10.06 and its 200-day simple moving average is $10.20. Iovance Biotherapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $18.33. The company has a market capitalization of $2.65 billion, a P/E ratio of -5.26 and a beta of 0.62.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $31.11 million for the quarter, compared to analysts’ expectations of $24.59 million. During the same quarter last year, the company earned ($0.47) EPS. The business’s revenue was up 12969.7% on a year-over-year basis. As a group, sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -1.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IOVA. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Monday, August 12th. Piper Sandler cut Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. JMP Securities reduced their target price on 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. Finally, StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.