Seven Eight Capital LP Buys Shares of 174,402 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Seven Eight Capital LP acquired a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 174,402 shares of the biotechnology company’s stock, valued at approximately $2,585,000.

Several other hedge funds also recently modified their holdings of IOVA. Quadrant Capital Group LLC lifted its holdings in Iovance Biotherapeutics by 1,227.8% during the 4th quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock worth $41,000 after buying an additional 4,678 shares during the period. Fidelis Capital Partners LLC bought a new stake in Iovance Biotherapeutics during the 1st quarter worth approximately $87,000. Nisa Investment Advisors LLC boosted its stake in shares of Iovance Biotherapeutics by 284.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock worth $61,000 after buying an additional 5,577 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Iovance Biotherapeutics by 256.6% in the 4th quarter. Signaturefd LLC now owns 8,723 shares of the biotechnology company’s stock worth $71,000 after buying an additional 6,277 shares during the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $89,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 4.3 %

Shares of IOVA traded up $0.36 during trading hours on Tuesday, reaching $8.69. 3,949,876 shares of the stock traded hands, compared to its average volume of 7,737,603. Iovance Biotherapeutics, Inc. has a 52-week low of $3.21 and a 52-week high of $18.33. The company’s 50-day moving average price is $8.62 and its two-hundred day moving average price is $10.86. The company has a market cap of $2.43 billion, a P/E ratio of -4.83 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.03. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The company had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $1.99 million. During the same quarter in the previous year, the company earned ($0.50) EPS. Iovance Biotherapeutics’s revenue for the quarter was up 71400.0% on a year-over-year basis. On average, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on IOVA. HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, June 28th. JMP Securities decreased their price target on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, June 20th. Finally, StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.45.

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.