Cambridge Investment Research Advisors Inc. Acquires 5,237 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Cambridge Investment Research Advisors Inc. boosted its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 12.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,877 shares of the biotechnology company’s stock after purchasing an additional 5,237 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Iovance Biotherapeutics were worth $153,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Man Group plc purchased a new stake in Iovance Biotherapeutics during the 4th quarter valued at $17,871,000. Raymond James Financial Inc. bought a new position in Iovance Biotherapeutics in the 4th quarter valued at $11,568,000. Marshall Wace LLP bought a new position in Iovance Biotherapeutics in the 4th quarter valued at $8,365,000. B Group Inc. bought a new position in Iovance Biotherapeutics in the 4th quarter valued at $7,341,000. Finally, Stempoint Capital LP bought a new position in Iovance Biotherapeutics in the 4th quarter valued at $7,026,000. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Trading Up 7.5%

Shares of Iovance Biotherapeutics stock opened at $2.01 on Tuesday. Iovance Biotherapeutics, Inc. has a twelve month low of $1.64 and a twelve month high of $12.51. The stock has a market capitalization of $671.20 million, a P/E ratio of -1.62 and a beta of 0.85. The business’s fifty day moving average price is $1.98 and its 200 day moving average price is $3.78.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). The business had revenue of $49.32 million for the quarter, compared to analysts’ expectations of $83.40 million. Iovance Biotherapeutics had a negative return on equity of 49.71% and a negative net margin of 176.49%. The firm’s revenue was up 6795.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.42) earnings per share. As a group, sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on IOVA shares. Baird R W downgraded Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Chardan Capital dropped their price target on Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Citizens Jmp downgraded Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a research report on Friday, May 9th. The Goldman Sachs Group dropped their price target on Iovance Biotherapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Finally, Truist Financial downgraded Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of “Hold” and an average price target of $12.22.

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.