Transcend Capital Advisors LLC Makes New $180,000 Investment in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Transcend Capital Advisors LLC acquired a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,500 shares of the biotechnology company’s stock, valued at approximately $180,000.

Several other institutional investors and hedge funds also recently bought and sold shares of IOVA. Pale Fire Capital SE lifted its holdings in shares of Iovance Biotherapeutics by 12.7% during the 4th 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 last quarter. Diversified Trust Co increased its stake in Iovance Biotherapeutics by 14.8% during the 1st quarter. Diversified Trust Co now owns 15,511 shares of the biotechnology company’s stock worth $230,000 after buying an additional 1,999 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of Iovance Biotherapeutics by 15.0% in the fourth 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 in the last quarter. American International Group Inc. boosted its stake in Iovance Biotherapeutics by 2.6% during the first quarter. American International Group Inc. now owns 116,951 shares of the biotechnology company’s stock worth $1,733,000 after buying an additional 2,941 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Iovance Biotherapeutics by 29.7% during the 4th quarter. Raymond James & Associates now owns 16,910 shares of the biotechnology company’s stock worth $137,000 after buying an additional 3,868 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Down 1.0 %

Shares of IOVA traded down $0.08 during mid-day trading on Monday, hitting $7.71. The company had a trading volume of 3,483,191 shares, compared to its average volume of 7,661,705. Iovance Biotherapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $18.33. The business’s 50-day simple moving average is $8.37 and its 200-day simple moving average is $10.84. The stock has a market cap of $2.16 billion, a PE ratio of -4.33 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.03. The firm had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.99 million. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The firm’s quarterly revenue was up 71400.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.50) EPS. On average, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research report on Friday, July 12th. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, June 28th. Finally, JMP Securities reduced their target price on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Iovance Biotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $23.64.

Iovance Biotherapeutics 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.