Virtu Financial LLC Takes $755,000 Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Virtu Financial LLC purchased a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 94,099 shares of the biotechnology company’s stock, valued at approximately $755,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Avoro Capital Advisors LLC raised its stake in Iovance Biotherapeutics by 74.6% during 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 period. Vanguard Group Inc. raised its position in 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 period. Price T Rowe Associates Inc. MD raised its position 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 valued at $78,071,000 after buying an additional 1,991,262 shares during the period. Norges Bank purchased a new stake in Iovance Biotherapeutics in the 4th quarter worth about $9,109,000. Finally, Invenomic Capital Management LP acquired a new stake in Iovance Biotherapeutics during the 4th quarter worth about $8,563,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. JMP Securities decreased their target price on shares of 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. One equities research 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Iovance Biotherapeutics Trading Up 1.8 %

IOVA stock opened at $10.35 on Friday. The firm has a market cap of $2.90 billion, a PE ratio of -5.75 and a beta of 0.63. Iovance Biotherapeutics, Inc. has a 1 year low of $3.21 and a 1 year high of $18.33. The company has a fifty day simple moving average of $9.80 and a 200 day simple moving average of $10.79.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced 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. The company had revenue of $31.11 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 12969.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. As a group, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.26 EPS for the current fiscal year.

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.