Long Focus Capital Management LLC Acquires 2,731,688 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Long Focus Capital Management LLC grew its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 195.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,132,000 shares of the biotechnology company’s stock after acquiring an additional 2,731,688 shares during the period. Iovance Biotherapeutics accounts for approximately 1.3% of Long Focus Capital Management LLC’s holdings, making the stock its 14th largest position. Long Focus Capital Management LLC’s holdings in Iovance Biotherapeutics were worth $33,139,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of IOVA. Diversified Trust Co raised its stake in shares of Iovance Biotherapeutics by 9.5% in the 2nd quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company’s stock valued at $136,000 after acquiring an additional 1,469 shares in the last quarter. Xponance Inc. grew its holdings in Iovance Biotherapeutics by 13.0% during the second quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 1,873 shares during the last quarter. Pale Fire Capital SE raised its position in shares of Iovance Biotherapeutics by 12.7% in the fourth quarter. Pale Fire Capital SE now owns 17,024 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 1,924 shares during the period. Arizona State Retirement System lifted its stake in shares of Iovance Biotherapeutics by 3.8% in the second quarter. Arizona State Retirement System now owns 54,734 shares of the biotechnology company’s stock worth $439,000 after buying an additional 1,985 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of Iovance Biotherapeutics by 15.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company’s stock worth $157,000 after buying an additional 2,688 shares during the period. Institutional investors and hedge funds own 77.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

Iovance Biotherapeutics Trading Up 0.3 %

Shares of NASDAQ:IOVA opened at $9.25 on Friday. The business’s 50 day moving average is $9.87 and its 200-day moving average is $10.54. The firm has a market capitalization of $2.59 billion, a PE ratio of -5.14 and a beta of 0.63. Iovance Biotherapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $18.33.

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, 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 analyst estimates of $24.59 million. During the same period in the previous year, the business earned ($0.47) EPS. The firm’s revenue was up 12969.7% on a year-over-year basis. On average, sell-side analysts predict 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.