Marshall Wace LLP Invests $12.93 Million in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Marshall Wace LLP bought a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,612,055 shares of the biotechnology company's stock, valued at approximately $12,929,000. Marshall Wace LLP owned about 0.58% of Iovance Biotherapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IOVA. Avoro Capital Advisors LLC grew its position in shares of Iovance Biotherapeutics by 74.6% in the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company's stock valued at $173,394,000 after acquiring an additional 5,000,000 shares during the period. Vanguard Group Inc. increased its position in Iovance Biotherapeutics by 9.2% during the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company's stock worth $369,245,000 after buying an additional 2,102,480 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Iovance Biotherapeutics by 60.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company's stock valued at $78,071,000 after buying an additional 1,991,262 shares during the period. Norges Bank acquired a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $9,109,000. Finally, Invenomic Capital Management LP bought a new position in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $8,563,000. 77.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded Iovance Biotherapeutics to a "sell" rating in a research note on Monday, August 12th. JMP Securities cut 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. HC Wainwright reiterated a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. Finally, Piper Sandler downgraded shares of Iovance Biotherapeutics from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Iovance Biotherapeutics currently has an average rating of "Moderate Buy" and an average target price of $23.00.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock traded up $0.36 during midday trading on Friday, hitting $9.61. The company's stock had a trading volume of 3,869,791 shares, compared to its average volume of 7,457,834. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -5.34 and a beta of 0.63. Iovance Biotherapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $18.33. The company has a 50-day moving average price of $9.90 and a two-hundred day moving average price of $10.44.

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

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.