683 Capital Management LLC Boosts Stock Holdings in Iovance Biotherapeutics, Inc. $IOVA

Key Points

• 683 Capital Management LLC increased its stake in Iovance Biotherapeutics by 69.5%, acquiring an additional 983,986 shares during the first quarter, bringing its total holdings to 2.4 million shares valued at approximately $8 million.
• Other institutional investors, including Vanguard Group Inc. and Long Focus Capital Management LLC, have also increased their positions in Iovance Biotherapeutics, with the combined holdings of hedge funds now accounting for 77.03% of the company's stock.
• Iovance Biotherapeutics recently reported a quarterly loss of ($0.33) earnings per share, missing analysts' expectations, and has received mixed updates from investment analysts, with price targets ranging from $4.00 to $20.00.

683 Capital Management LLC increased its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 69.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,400,000 shares of the biotechnology company's stock after acquiring an additional 983,986 shares during the quarter. 683 Capital Management LLC owned about 0.72% of Iovance Biotherapeutics worth $7,992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IOVA. Baird Financial Group Inc. raised its position in Iovance Biotherapeutics by 1.0% in the 4th quarter. Baird Financial Group Inc. now owns 195,845 shares of the biotechnology company's stock valued at $1,449,000 after buying an additional 2,000 shares during the last quarter. Algert Global LLC increased its position in shares of Iovance Biotherapeutics by 4.3% during the 4th quarter. Algert Global LLC now owns 56,400 shares of the biotechnology company's stock worth $417,000 after purchasing an additional 2,330 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in Iovance Biotherapeutics by 39.0% during the first quarter. Avantax Advisory Services Inc. now owns 18,560 shares of the biotechnology company's stock worth $62,000 after buying an additional 5,205 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Iovance Biotherapeutics by 12.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,877 shares of the biotechnology company's stock worth $153,000 after acquiring an additional 5,237 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in Iovance Biotherapeutics by 39.4% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,442 shares of the biotechnology company's stock worth $144,000 after acquiring an additional 5,500 shares in the last quarter. Institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Stock Performance

Shares of IOVA stock traded up $0.29 on Friday, hitting $2.49. The company had a trading volume of 15,204,959 shares, compared to its average volume of 13,018,074. The stock's 50-day moving average is $2.38 and its two-hundred day moving average is $2.77. Iovance Biotherapeutics, Inc. has a twelve month low of $1.64 and a twelve month high of $12.51. The firm has a market cap of $901.01 million, a P/E ratio of -2.02 and a beta of 0.82.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.04). Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%.The firm had revenue of $59.95 million during the quarter, compared to analyst estimates of $67.14 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Chardan Capital decreased their price objective on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Barclays reduced their price target on Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Truist Financial downgraded Iovance Biotherapeutics from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Iovance Biotherapeutics in a report on Tuesday, August 19th. Finally, Mizuho dropped their price objective on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating on the stock in a research report on Monday, May 12th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Iovance Biotherapeutics currently has an average rating of "Hold" and an average target price of $11.90.

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.