Neo Ivy Capital Management Acquires New Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Neo Ivy Capital Management acquired a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 453,138 shares of the biotechnology company's stock, valued at approximately $3,353,000. Neo Ivy Capital Management owned approximately 0.15% of Iovance Biotherapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Man Group plc bought a new stake in Iovance Biotherapeutics in the fourth quarter worth about $17,871,000. Raymond James Financial Inc. bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $11,568,000. Marshall Wace LLP bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $8,365,000. B Group Inc. bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $7,341,000. Finally, Stempoint Capital LP bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $7,026,000. 77.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on IOVA. Robert W. Baird dropped their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. JMP Securities reiterated a "market perform" rating on shares of Iovance Biotherapeutics in a report on Friday, May 9th. Truist Financial downgraded shares of Iovance Biotherapeutics from a "buy" rating to a "hold" rating in a report on Monday, May 12th. Chardan Capital dropped their target price on shares of Iovance Biotherapeutics from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, UBS Group downgraded shares of Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $17.00 to $2.00 in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $13.30.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $1.75 on Friday. The firm's 50 day simple moving average is $3.01 and its 200-day simple moving average is $5.56. The company has a market cap of $584.38 million, a P/E ratio of -1.17 and a beta of 1.06. 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 data on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $49.32 million for the quarter, compared to analysts' expectations of $83.40 million. During the same period in the previous year, the firm posted ($0.42) earnings per share. The business's revenue for the quarter was up 6795.1% on a year-over-year basis. On average, analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal 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.

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