Hood River Capital Management LLC Increases Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Hood River Capital Management LLC increased its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,732,427 shares of the biotechnology company’s stock after acquiring an additional 108,189 shares during the quarter. Hood River Capital Management LLC owned approximately 0.98% of Iovance Biotherapeutics worth $21,914,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IOVA. Diversified Trust Co raised its position in shares of Iovance Biotherapeutics by 9.5% in the 2nd quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 1,469 shares in the last quarter. Pale Fire Capital SE raised its holdings in Iovance Biotherapeutics by 12.7% in the fourth quarter. Pale Fire Capital SE now owns 17,024 shares of the biotechnology company’s stock valued at $138,000 after acquiring an additional 1,924 shares in the last quarter. Arizona State Retirement System boosted its stake in Iovance Biotherapeutics by 3.8% during the 2nd quarter. Arizona State Retirement System now owns 54,734 shares of the biotechnology company’s stock valued at $439,000 after acquiring an additional 1,985 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in Iovance Biotherapeutics by 15.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company’s stock worth $157,000 after acquiring an additional 2,688 shares in the last quarter. Finally, American International Group Inc. increased its position 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 worth $1,733,000 after purchasing an additional 2,941 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Down 1.9 %

Shares of NASDAQ IOVA opened at $10.15 on Monday. Iovance Biotherapeutics, Inc. has a 12-month low of $3.21 and a 12-month high of $18.33. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -5.64 and a beta of 0.63. The stock’s 50 day simple moving average is $9.83 and its 200 day simple moving average is $10.65.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 65.04% and a negative net margin of 1,343.27%. The firm’s quarterly revenue was up 12969.7% compared to the same quarter last year. During the same period last year, the business posted ($0.47) earnings per share. As a group, equities analysts forecast that Iovance Biotherapeutics, Inc. will post -1.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IOVA shares. Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Monday, August 12th. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Finally, JMP Securities reduced their price objective on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and an average price target of $23.00.

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.