Pier 88 Investment Partners LLC Grows Stock Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Pier 88 Investment Partners LLC lifted its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 155.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,580 shares of the biotechnology company’s stock after purchasing an additional 35,680 shares during the period. Pier 88 Investment Partners LLC’s holdings in Iovance Biotherapeutics were worth $470,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. ORG Partners LLC purchased a new stake in Iovance Biotherapeutics in the 2nd quarter worth approximately $32,000. Quadrant Capital Group LLC lifted its stake in Iovance Biotherapeutics by 1,227.8% in the fourth quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 4,678 shares during the period. Abacus Planning Group Inc. bought a new stake in Iovance Biotherapeutics in the second quarter valued at $82,000. Fidelis Capital Partners LLC purchased a new position in Iovance Biotherapeutics during the 1st quarter valued at $87,000. Finally, Calton & Associates Inc. bought a new position in Iovance Biotherapeutics in the 4th quarter worth $98,000. 77.03% of the stock is owned by institutional investors.

Iovance Biotherapeutics Stock Performance

NASDAQ IOVA opened at $10.01 on Friday. Iovance Biotherapeutics, Inc. has a one year low of $3.21 and a one year high of $18.33. The stock has a 50-day moving average of $9.40 and a 200 day moving average of $11.16. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -5.56 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.01. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The firm had revenue of $31.11 million for the quarter, compared to analysts’ expectations of $24.59 million. During the same period in the prior year, the firm earned ($0.47) EPS. The company’s revenue was up 12969.7% compared to the same quarter last year. On average, equities analysts predict that Iovance Biotherapeutics, Inc. will post -1.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IOVA shares. JMP Securities cut their target price on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, June 20th. Piper Sandler cut Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $10.00 in a research report on Monday, July 29th. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Finally, HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and an average price target of $24.00.

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.