24,124 Shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC purchased a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,124 shares of the biotechnology company’s stock, valued at approximately $193,000.

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. lifted its position in Iovance Biotherapeutics by 33.9% in the first quarter. Sei Investments Co. now owns 333,148 shares of the biotechnology company’s stock worth $4,937,000 after buying an additional 84,382 shares during the last quarter. Vanguard Group Inc. lifted its position in Iovance Biotherapeutics by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 22,812,820 shares of the biotechnology company’s stock worth $185,468,000 after buying an additional 669,350 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Iovance Biotherapeutics in the first quarter worth $246,000. UBS Group AG lifted its position in Iovance Biotherapeutics by 255.2% in the fourth quarter. UBS Group AG now owns 857,308 shares of the biotechnology company’s stock worth $6,970,000 after buying an additional 615,920 shares during the last quarter. Finally, Opaleye Management Inc. lifted its position in shares of Iovance Biotherapeutics by 47.0% during the fourth quarter. Opaleye Management Inc. now owns 897,000 shares of the biotechnology company’s stock worth $7,293,000 after purchasing an additional 287,000 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IOVA has been the subject of several research analyst reports. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Monday, August 12th. Finally, JMP Securities decreased their price objective on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a report on Thursday, June 20th. One equities research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.00.

Iovance Biotherapeutics Price Performance

IOVA opened at $10.34 on Monday. The business’s 50-day moving average is $9.60 and its two-hundred day moving average is $10.93. Iovance Biotherapeutics, Inc. has a 1 year low of $3.21 and a 1 year high of $18.33. The firm has a market capitalization of $2.89 billion, a PE ratio of -5.74 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $24.59 million. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. The company’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 EPS 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.