AQR Capital Management LLC Has $92,000 Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

AQR Capital Management LLC lowered its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 71.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,477 shares of the biotechnology company’s stock after selling 28,534 shares during the period. AQR Capital Management LLC’s holdings in Iovance Biotherapeutics were worth $92,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sei Investments Co. grew its stake in Iovance Biotherapeutics by 33.9% during the first quarter. Sei Investments Co. now owns 333,148 shares of the biotechnology company’s stock worth $4,937,000 after purchasing an additional 84,382 shares during the period. Vanguard Group Inc. grew its stake in Iovance Biotherapeutics by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 22,812,820 shares of the biotechnology company’s stock worth $185,468,000 after purchasing an additional 669,350 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Iovance Biotherapeutics during the first quarter worth approximately $246,000. Marshall Wace LLP acquired a new stake in Iovance Biotherapeutics during the second quarter worth approximately $12,929,000. Finally, GSA Capital Partners LLP acquired a new stake in Iovance Biotherapeutics during the first quarter worth approximately $907,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $10.24 on Friday. Iovance Biotherapeutics, Inc. has a 52 week low of $3.21 and a 52 week high of $18.33. The stock has a 50 day moving average price of $10.27 and a two-hundred day moving average price of $10.04. The stock has a market capitalization of $2.87 billion, a PE ratio of -5.69 and a beta of 0.62.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The company had revenue of $31.11 million for the quarter, compared to analyst estimates of $24.59 million. During the same quarter last year, the company earned ($0.47) earnings per share. The company’s revenue for the quarter was up 12969.7% on a year-over-year basis. Research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.26 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. Finally, Piper Sandler cut 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.