82,363 Shares in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Bought by Magnetar Financial LLC

Magnetar Financial LLC acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 82,363 shares of the biotechnology company's stock, valued at approximately $661,000.

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC acquired a new position in shares of Iovance Biotherapeutics during the second quarter valued at $32,000. Quest Partners LLC raised its holdings in Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 4,629 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Iovance Biotherapeutics by 1,227.8% during the 4th quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 4,678 shares during the period. EverSource Wealth Advisors LLC bought a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at about $58,000. Finally, Daiwa Securities Group Inc. grew its position in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company's stock worth $71,000 after buying an additional 7,781 shares during the period. 77.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IOVA shares. StockNews.com raised shares of Iovance Biotherapeutics to a "sell" rating in a research note on Monday, August 12th. Piper Sandler cut Iovance Biotherapeutics from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. JMP Securities dropped their price objective on Iovance Biotherapeutics from $25.00 to $23.00 and set a "market outperform" rating for the company in a report on Thursday, June 20th. Finally, HC Wainwright restated a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.00.

Iovance Biotherapeutics Stock Performance

NASDAQ:IOVA traded down $0.12 on Wednesday, reaching $9.22. The company's stock had a trading volume of 4,335,968 shares, compared to its average volume of 7,500,077. Iovance Biotherapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $18.33. The business's 50-day moving average price is $9.85 and its two-hundred day moving average price is $10.55. The firm has a market cap of $2.58 billion, a PE ratio of -5.12 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.01. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The business had revenue of $31.11 million during the quarter, compared to analysts' expectations of $24.59 million. During the same period in the prior year, the business earned ($0.47) EPS. Iovance Biotherapeutics's revenue for the quarter was up 12969.7% compared to the same quarter last year. As a group, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.26 EPS for the current 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.