Voss Capital LP Makes New Investment in Iovance Biotherapeutics, Inc. $IOVA

by · The Cerbat Gem

Voss Capital LP purchased a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 672,570 shares of the biotechnology company’s stock, valued at approximately $1,157,000.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Iovance Biotherapeutics by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 27,777,778 shares of the biotechnology company’s stock worth $92,500,000 after buying an additional 243,438 shares during the period. Long Focus Capital Management LLC increased its stake in Iovance Biotherapeutics by 80.2% during the first quarter. Long Focus Capital Management LLC now owns 9,250,055 shares of the biotechnology company’s stock worth $30,803,000 after acquiring an additional 4,118,055 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Iovance Biotherapeutics by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 6,189,058 shares of the biotechnology company’s stock worth $10,646,000 after purchasing an additional 220,760 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Iovance Biotherapeutics by 202.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock valued at $19,239,000 after purchasing an additional 3,869,617 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Iovance Biotherapeutics by 30.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock worth $18,554,000 after purchasing an additional 1,301,846 shares during the period. 77.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IOVA. Zacks Research upgraded shares of Iovance Biotherapeutics to a “hold” rating in a report on Tuesday, August 12th. Barclays increased their price objective on shares of Iovance Biotherapeutics from $4.00 to $9.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Chardan Capital reduced their target price on shares of Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research report on Wednesday, October 8th. Finally, HC Wainwright cut their price objective on Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Iovance Biotherapeutics has an average rating of “Hold” and a consensus price target of $11.00.

Get Our Latest Report on IOVA

Iovance Biotherapeutics Stock Performance

Shares of IOVA stock opened at $2.20 on Monday. The firm has a fifty day simple moving average of $2.24 and a 200-day simple moving average of $2.23. The company has a market capitalization of $873.33 million, a PE ratio of -1.83 and a beta of 0.82. Iovance Biotherapeutics, Inc. has a twelve month low of $1.64 and a twelve month high of $9.30.

Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. Iovance Biotherapeutics had a negative net margin of 158.78% and a negative return on equity of 55.24%. The firm had revenue of $67.46 million for the quarter, compared to analyst estimates of $76.20 million. Equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Iovance Biotherapeutics Company Profile

(Free Report)

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.

Further Reading

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