Beacon Financial Advisory LLC Boosts Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Beacon Financial Advisory LLC lifted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 42.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 21,120 shares of the biotechnology company’s stock after acquiring an additional 6,320 shares during the period. Beacon Financial Advisory LLC’s holdings in Iovance Biotherapeutics were worth $198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IOVA. Perceptive Advisors LLC lifted its holdings in shares of Iovance Biotherapeutics by 34.6% in the 2nd quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock worth $207,984,000 after acquiring an additional 6,660,151 shares during the last quarter. Vanguard Group Inc. boosted 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 valued at $369,245,000 after buying an additional 2,102,480 shares during the period. Avoro Capital Advisors LLC grew its stake in shares of Iovance Biotherapeutics by 74.6% during the first quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock valued at $173,394,000 after buying an additional 5,000,000 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 worth $78,071,000 after buying an additional 1,991,262 shares during the period. Finally, Long Focus Capital Management LLC increased its holdings in shares of Iovance Biotherapeutics by 195.1% in the second quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock worth $33,139,000 after buying an additional 2,731,688 shares during the period. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IOVA shares. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday. Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Finally, UBS Group initiated coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

Iovance Biotherapeutics Trading Up 4.1 %

NASDAQ IOVA opened at $12.14 on Thursday. Iovance Biotherapeutics, Inc. has a one year low of $3.76 and a one year high of $18.33. The stock has a 50-day moving average of $10.19 and a 200 day moving average of $9.82.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The firm had revenue of $31.11 million during the quarter, compared to analyst estimates of $24.59 million. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. The business’s revenue for the quarter was up 12969.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.47) earnings per share. Analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.26 earnings per share for the current fiscal 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.