Long Focus Capital Management LLC Purchases 600,000 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Long Focus Capital Management LLC lifted its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,132,000 shares of the biotechnology company's stock after purchasing an additional 600,000 shares during the quarter. Iovance Biotherapeutics accounts for 1.2% of Long Focus Capital Management LLC's holdings, making the stock its 14th largest position. Long Focus Capital Management LLC owned 1.68% of Iovance Biotherapeutics worth $37,977,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $12,927,000. Raymond James Financial Inc. bought a new position in Iovance Biotherapeutics in the fourth quarter valued at about $11,568,000. Principal Financial Group Inc. raised its stake in Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock worth $37,872,000 after acquiring an additional 1,496,941 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $8,365,000. Finally, B Group Inc. acquired a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $7,341,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IOVA shares. HC Wainwright reiterated a "buy" rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Barclays lowered their price target on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Piper Sandler cut their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a report on Friday, February 28th. Robert W. Baird lowered their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Finally, The Goldman Sachs Group cut their price target on Iovance Biotherapeutics from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.22.

Iovance Biotherapeutics Price Performance

Shares of IOVA traded up $0.07 during trading hours on Monday, hitting $3.58. 3,447,611 shares of the stock were exchanged, compared to its average volume of 7,584,228. The firm has a market capitalization of $1.17 billion, a P/E ratio of -2.40 and a beta of 1.05. The business has a 50-day moving average of $3.73 and a 200-day moving average of $6.53. Iovance Biotherapeutics, Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The company had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. As a group, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

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.