Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 11.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,071 shares of the biotechnology company’s stock after buying an additional 1,776 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Iovance Biotherapeutics were worth $160,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Perceptive Advisors LLC increased its holdings in Iovance Biotherapeutics by 34.6% in the 2nd quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock worth $207,984,000 after acquiring an additional 6,660,151 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock valued at $369,245,000 after purchasing an additional 2,102,480 shares during the period. Avoro Capital Advisors LLC increased its stake in shares of Iovance Biotherapeutics by 74.6% during the first quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock worth $173,394,000 after purchasing an additional 5,000,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Iovance Biotherapeutics by 60.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock worth $78,071,000 after purchasing an additional 1,991,262 shares during the last quarter. Finally, Long Focus Capital Management LLC lifted its stake in Iovance Biotherapeutics by 195.1% in the 2nd quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock valued at $33,139,000 after buying an additional 2,731,688 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IOVA shares. 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 report on Monday, July 29th. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Monday, August 12th. Finally, StockNews.com upgraded 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.00.

Iovance Biotherapeutics Stock Performance

NASDAQ IOVA opened at $9.92 on Tuesday. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.27 and a fifty-two week high of $18.33. The firm has a market capitalization of $2.78 billion, a P/E ratio of -5.51 and a beta of 0.62. The stock’s fifty day moving average is $10.27 and its two-hundred day moving average is $9.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data 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. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. The firm had revenue of $31.11 million during the quarter, compared to analyst estimates of $24.59 million. During the same quarter in the prior year, the firm posted ($0.47) earnings per share. Iovance Biotherapeutics’s quarterly 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 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.