Long Focus Capital Management LLC Grows Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Long Focus Capital Management LLC raised its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,132,000 shares of the biotechnology company's stock after purchasing an additional 600,000 shares during the quarter. Iovance Biotherapeutics accounts for about 1.2% of Long Focus Capital Management LLC's investment portfolio, making the stock its 14th largest position. Long Focus Capital Management LLC owned approximately 1.68% of Iovance Biotherapeutics worth $37,977,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. AlphaQuest LLC lifted its stake in shares of Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock valued at $34,000 after buying an additional 1,794 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Iovance Biotherapeutics by 10.1% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company's stock valued at $158,000 after acquiring an additional 1,950 shares during the period. HighTower Advisors LLC lifted its position in shares of Iovance Biotherapeutics by 3.9% in the fourth quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company's stock valued at $586,000 after acquiring an additional 2,951 shares in the last quarter. Xponance Inc. boosted its stake in shares of Iovance Biotherapeutics by 18.5% in the fourth quarter. Xponance Inc. now owns 19,607 shares of the biotechnology company's stock worth $145,000 after acquiring an additional 3,066 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in shares of Iovance Biotherapeutics by 7.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 46,417 shares of the biotechnology company's stock worth $343,000 after purchasing an additional 3,266 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Stock Up 4.2 %

Iovance Biotherapeutics stock opened at $3.21 on Wednesday. Iovance Biotherapeutics, Inc. has a twelve month low of $2.70 and a twelve month high of $14.23. The company's 50-day moving average price is $3.87 and its 200-day moving average price is $6.69. The company has a market cap of $1.05 billion, a PE ratio of -2.15 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). The company had revenue of $73.69 million for the quarter, compared to analysts' expectations of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. As a group, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on IOVA. Truist Financial lowered their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Piper Sandler lowered their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a report on Friday, February 28th. The Goldman Sachs Group cut their target price on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Barclays decreased their price target on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Chardan Capital cut their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Iovance Biotherapeutics has a consensus rating of "Moderate Buy" and an average price target of $18.22.

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.

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