Los Angeles Capital Management LLC purchased a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,124 shares of the biotechnology company’s stock, valued at approximately $193,000.
Other large investors also recently bought and sold shares of the company. ORG Partners LLC acquired a new position in Iovance Biotherapeutics in the second quarter valued at approximately $32,000. Quadrant Capital Group LLC raised its stake in shares of Iovance Biotherapeutics by 1,227.8% during the 4th 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 period. Fidelis Capital Partners LLC acquired a new position in shares of Iovance Biotherapeutics during the 1st quarter worth approximately $87,000. Abacus Planning Group Inc. acquired a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $82,000. Finally, Brookstone Capital Management acquired a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $112,000. 77.03% of the stock is owned by institutional investors and hedge funds.
Iovance Biotherapeutics Stock Up 9.3 %
Shares of NASDAQ:IOVA opened at $10.34 on Monday. The business has a fifty day moving average of $9.60 and a two-hundred day moving average of $10.93. The stock has a market cap of $2.89 billion, a P/E ratio of -5.74 and a beta of 0.63. Iovance Biotherapeutics, Inc. has a 52-week low of $3.21 and a 52-week high of $18.33.
Analysts Set New Price Targets
Several brokerages have recently weighed in on IOVA. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. JMP Securities reduced their target price on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, June 20th. Finally, StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.
Read Our Latest Analysis on Iovance Biotherapeutics
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.
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