Iovance Biotherapeutics, Inc. $IOVA Shares Acquired by Long Focus Capital Management LLC

Key Points

• Long Focus Capital Management LLC significantly boosted its investment in Iovance Biotherapeutics by acquiring an additional 4,118,055 shares, raising its ownership to a total of 9,250,055 shares, which constitutes 1.0% of its portfolio.
• Recent analyst reports indicate a mix of opinions on Iovance's stock, with a current average rating of "Hold" and a price target ranging from $2.00 to $20.00.
• Iovance Biotherapeutics recently reported a loss of ($0.33) EPS, missing analysts' expectations, alongside a revenue of $59.95 million for the quarter, less than the anticipated $67.14 million.

Long Focus Capital Management LLC raised its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 80.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 9,250,055 shares of the biotechnology company's stock after purchasing an additional 4,118,055 shares during the period. Iovance Biotherapeutics accounts for approximately 1.0% of Long Focus Capital Management LLC's portfolio, making the stock its 22nd biggest holding. Long Focus Capital Management LLC owned approximately 2.77% of Iovance Biotherapeutics worth $30,803,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IOVA. Man Group plc acquired a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth $17,871,000. Principal Financial Group Inc. increased its stake in shares of Iovance Biotherapeutics by 28.7% in the 1st quarter. Principal Financial Group Inc. now owns 4,694,122 shares of the biotechnology company's stock worth $15,631,000 after acquiring an additional 1,047,335 shares during the last quarter. Stempoint Capital LP acquired a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth about $7,026,000. Nuveen LLC acquired a new stake in shares of Iovance Biotherapeutics during the 1st quarter worth about $2,953,000. Finally, Boxer Capital Management LLC acquired a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth about $5,550,000. Hedge funds and other institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Stock Down 3.4%

IOVA traded down $0.08 on Thursday, reaching $2.14. The company's stock had a trading volume of 3,103,998 shares, compared to its average volume of 13,579,941. The stock has a 50 day moving average of $2.36 and a two-hundred day moving average of $2.83. The company has a market capitalization of $772.55 million, a price-to-earnings ratio of -1.74 and a beta of 0.82. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced 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). The business had revenue of $59.95 million during the quarter, compared to analyst estimates of $67.14 million. Iovance Biotherapeutics had a negative net margin of 161.44% and a negative return on equity of 52.87%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. HC Wainwright reissued a "buy" rating and set a $20.00 price objective on shares of Iovance Biotherapeutics in a research report on Tuesday, August 19th. Barclays cut their price objective on Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Zacks Research raised Iovance Biotherapeutics to a "hold" rating in a research report on Tuesday, August 12th. Baird R W downgraded Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, UBS Group downgraded Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $17.00 to $2.00 in a research report on Friday, May 16th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.