Quinn Opportunity Partners LLC Purchases Shares of 614,200 Iovance Biotherapeutics, Inc. $IOVA

Quinn Opportunity Partners LLC bought a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 614,200 shares of the biotechnology company’s stock, valued at approximately $1,056,000. Quinn Opportunity Partners LLC owned about 0.18% of Iovance Biotherapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avantax Advisory Services Inc. boosted its holdings in shares of Iovance Biotherapeutics by 39.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 18,560 shares of the biotechnology company’s stock valued at $62,000 after purchasing an additional 5,205 shares during the last quarter. Grimes & Company Inc. grew its position in Iovance Biotherapeutics by 17.6% during the second quarter. Grimes & Company Inc. now owns 37,839 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 5,672 shares during the period. Accredited Investors Inc. acquired a new stake in Iovance Biotherapeutics during the first quarter worth about $33,000. WealthTrust Axiom LLC acquired a new stake in Iovance Biotherapeutics during the first quarter worth about $33,000. Finally, Flputnam Investment Management Co. purchased a new position in shares of Iovance Biotherapeutics in the 1st quarter worth about $37,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Down 4.2%

Shares of IOVA stock opened at $2.54 on Thursday. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $9.93. The stock has a 50-day simple moving average of $2.21 and a 200 day simple moving average of $2.26. The stock has a market capitalization of $1.01 billion, a P/E ratio of -2.12 and a beta of 0.87.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. The business had revenue of $67.46 million for the quarter, compared to the consensus estimate of $76.20 million. Iovance Biotherapeutics had a negative net margin of 158.78% and a negative return on equity of 55.24%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on IOVA shares. Zacks Research upgraded shares of Iovance Biotherapeutics to a “hold” rating in a report on Tuesday, August 12th. Wells Fargo & Company cut their price target on Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Iovance Biotherapeutics in a report on Wednesday, October 8th. Chardan Capital cut their price objective on Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Finally, HC Wainwright lowered their target price on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of “Hold” and an average price target of $10.50.

Iovance Biotherapeutics Company 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.