Rhumbline Advisers Sells 22,750 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Rhumbline Advisers cut its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 368,800 shares of the biotechnology company’s stock after selling 22,750 shares during the quarter. Rhumbline Advisers owned 0.13% of Iovance Biotherapeutics worth $2,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC purchased a new position in shares of Iovance Biotherapeutics in the second quarter worth approximately $32,000. Quadrant Capital Group LLC boosted its holdings in shares of Iovance Biotherapeutics by 1,227.8% in the fourth quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock worth $41,000 after buying an additional 4,678 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Iovance Biotherapeutics in the first quarter worth approximately $87,000. Abacus Planning Group Inc. purchased a new position in shares of Iovance Biotherapeutics in the second quarter worth approximately $82,000. Finally, Brookstone Capital Management purchased a new position in shares of Iovance Biotherapeutics in the second quarter worth approximately $112,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on IOVA shares. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Monday, August 12th. Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $10.00 in a report on Monday, July 29th. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Finally, JMP Securities lowered their price target on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, June 20th. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.00.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA opened at $10.42 on Wednesday. The firm has a fifty day moving average price of $9.65 and a 200 day moving average price of $10.84. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $18.33. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -5.79 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its 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 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 business earned ($0.47) earnings per share. Iovance Biotherapeutics’s revenue for the quarter was up 12969.7% on a year-over-year basis. As a group, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.26 earnings per share for the current year.

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.