Bayesian Capital Management LP Raises Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Bayesian Capital Management LP boosted its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 328.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 151,700 shares of the biotechnology company’s stock after purchasing an additional 116,300 shares during the period. Bayesian Capital Management LP’s holdings in Iovance Biotherapeutics were worth $2,248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of IOVA. Sei Investments Co. boosted its position in Iovance Biotherapeutics by 33.9% in the 1st quarter. Sei Investments Co. now owns 333,148 shares of the biotechnology company’s stock worth $4,937,000 after purchasing an additional 84,382 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Iovance Biotherapeutics by 48.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 130,287 shares of the biotechnology company’s stock valued at $1,059,000 after buying an additional 42,692 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Iovance Biotherapeutics by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,143,470 shares of the biotechnology company’s stock valued at $100,753,000 after buying an additional 1,748,082 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Iovance Biotherapeutics during the 1st quarter valued at approximately $246,000. Finally, UBS Group AG lifted its holdings in Iovance Biotherapeutics by 255.2% in the 4th quarter. UBS Group AG now owns 857,308 shares of the biotechnology company’s stock valued at $6,970,000 after purchasing an additional 615,920 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. HC Wainwright restated a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, June 28th. Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $19.00 to $10.00 in a report on Monday. JMP Securities decreased their price objective on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, June 20th. Finally, StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.64.

Iovance Biotherapeutics Trading Down 0.9 %

Iovance Biotherapeutics stock traded down $0.08 during midday trading on Tuesday, reaching $8.97. 4,177,928 shares of the stock traded hands, compared to its average volume of 7,691,130. The company has a 50-day simple moving average of $8.52 and a two-hundred day simple moving average of $10.85. Iovance Biotherapeutics, Inc. has a 12-month low of $3.21 and a 12-month high of $18.33. The firm has a market cap of $2.51 billion, a PE ratio of -5.01 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.03. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The company had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $1.99 million. During the same period last year, the business posted ($0.50) EPS. Iovance Biotherapeutics’s revenue for the quarter was up 71400.0% on a year-over-year basis. Equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.35 earnings per share for the current year.

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.