Choreo LLC Makes New $116,000 Investment in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Choreo LLC acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 14,354 shares of the biotechnology company’s stock, valued at approximately $116,000.

A number of other institutional investors have also recently modified their holdings of the stock. Quest Partners LLC raised its stake in Iovance Biotherapeutics by 1,237.7% in the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 4,629 shares in the last quarter. Pier 88 Investment Partners LLC increased its holdings in Iovance Biotherapeutics by 155.8% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 58,580 shares of the biotechnology company’s stock valued at $470,000 after buying an additional 35,680 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at approximately $193,000. Arizona State Retirement System lifted its holdings in shares of Iovance Biotherapeutics by 3.8% during the 2nd quarter. Arizona State Retirement System now owns 54,734 shares of the biotechnology company’s stock worth $439,000 after acquiring an additional 1,985 shares during the period. Finally, Abacus Planning Group Inc. acquired a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $82,000. 77.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA opened at $10.15 on Friday. Iovance Biotherapeutics, Inc. has a one year low of $3.21 and a one year high of $18.33. The firm’s 50 day simple moving average is $9.83 and its 200 day simple moving average is $10.74. The company has a market cap of $2.84 billion, a PE ratio of -5.64 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued 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. The company had revenue of $31.11 million for the quarter, compared to analysts’ expectations of $24.59 million. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. Iovance Biotherapeutics’s revenue for the quarter was up 12969.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. Equities research analysts expect that Iovance Biotherapeutics, Inc. will post -1.26 EPS for the current 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.