Edgestream Partners L.P. Makes New $799,000 Investment in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Edgestream Partners L.P. acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 99,605 shares of the biotechnology company’s stock, valued at approximately $799,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of Iovance Biotherapeutics by 19.1% during the 4th quarter. Victory Capital Management Inc. now owns 26,921 shares of the biotechnology company’s stock worth $219,000 after purchasing an additional 4,323 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Iovance Biotherapeutics by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,747,023 shares of the biotechnology company’s stock worth $14,203,000 after buying an additional 54,490 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in Iovance Biotherapeutics during the fourth quarter worth $125,000. Quadrant Capital Group LLC lifted its stake in 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 valued at $41,000 after acquiring an additional 4,678 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at about $9,109,000. Institutional investors own 77.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IOVA. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. JMP Securities cut their price objective on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a research report on Thursday, June 20th. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Monday, August 12th. Finally, Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $19.00 to $10.00 in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA opened at $10.15 on Friday. The firm 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 fifty day moving average price is $9.83 and its two-hundred day moving average price is $10.70. Iovance Biotherapeutics, Inc. has a one year low of $3.21 and a one year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, beating the consensus estimate 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 business had revenue of $31.11 million for the quarter, compared to the consensus estimate of $24.59 million. During the same period in the prior year, the company posted ($0.47) earnings per share. Iovance Biotherapeutics’s revenue was up 12969.7% compared to the same quarter last year. On average, equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.26 earnings per share for the current fiscal year.

About Iovance Biotherapeutics

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.