1,612,055 Shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Bought by Marshall Wace LLP

Marshall Wace LLP acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,612,055 shares of the biotechnology company’s stock, valued at approximately $12,929,000. Marshall Wace LLP owned 0.58% of Iovance Biotherapeutics as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock valued at $369,245,000 after buying an additional 2,102,480 shares during the period. Avoro Capital Advisors LLC increased its position in Iovance Biotherapeutics by 74.6% during the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock valued at $173,394,000 after purchasing an additional 5,000,000 shares during the period. Price T Rowe Associates Inc. MD increased its position in Iovance Biotherapeutics by 60.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock valued at $78,071,000 after purchasing an additional 1,991,262 shares during the period. Hood River Capital Management LLC raised its holdings in Iovance Biotherapeutics by 4.1% during the 2nd quarter. Hood River Capital Management LLC now owns 2,732,427 shares of the biotechnology company’s stock worth $21,914,000 after purchasing an additional 108,189 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Iovance Biotherapeutics by 26.4% in the 2nd quarter. Principal Financial Group Inc. now owns 2,536,243 shares of the biotechnology company’s stock worth $20,341,000 after purchasing an additional 530,338 shares during the period. 77.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IOVA. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. JMP Securities decreased their price target on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a report on Thursday, June 20th. 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 decreased their target price for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $9.61 on Friday. The business has a 50-day simple moving average of $9.90 and a 200 day simple moving average of $10.47. Iovance Biotherapeutics, Inc. has a one year low of $3.21 and a one year high of $18.33. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -5.34 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data 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 return on equity of 65.04% and a negative net margin of 1,343.27%. The firm had revenue of $31.11 million during the quarter, compared to the consensus estimate of $24.59 million. During the same quarter in the previous year, the company posted ($0.47) earnings per share. The company’s quarterly revenue was up 12969.7% on a year-over-year basis. On average, sell-side analysts expect 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.