Avantax Advisory Services Inc. Boosts Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Avantax Advisory Services Inc. raised its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 39.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,560 shares of the biotechnology company’s stock after purchasing an additional 5,205 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Iovance Biotherapeutics were worth $62,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Accredited Investors Inc. purchased a new stake in Iovance Biotherapeutics in the first quarter valued at $33,000. FNY Investment Advisers LLC purchased a new stake in shares of Iovance Biotherapeutics in the 1st quarter valued at $39,000. Gould Asset Management LLC CA purchased a new stake in shares of Iovance Biotherapeutics in the 1st quarter valued at $39,000. GF Fund Management CO. LTD. purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at $47,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Iovance Biotherapeutics in the 1st quarter valued at $57,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Iovance Biotherapeutics in a report on Friday, May 9th. Mizuho cut their price objective on Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating on the stock in a report on Monday, May 12th. Truist Financial downgraded Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Baird R W downgraded Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Finally, UBS Group downgraded Iovance Biotherapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $17.00 to $2.00 in a report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.90.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA opened at $2.11 on Monday. The stock’s 50-day moving average is $2.22 and its two-hundred day moving average is $3.22. Iovance Biotherapeutics, Inc. has a 1-year low of $1.64 and a 1-year high of $12.51. The company has a market cap of $763.50 million, a price-to-earnings ratio of -1.72 and a beta of 0.88.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.04). The company had revenue of $59.95 million for the quarter, compared to analysts’ expectations of $67.14 million. Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%. Equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal 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.