Sherbrooke Park Advisers LLC Acquires Shares of 19,090 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Sherbrooke Park Advisers LLC acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,090 shares of the biotechnology company’s stock, valued at approximately $141,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IOVA. Man Group plc acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at $17,871,000. Raymond James Financial Inc. acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at $11,568,000. Marshall Wace LLP acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at about $8,365,000. B Group Inc. acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at about $7,341,000. Finally, Hood River Capital Management LLC grew its stake in shares of Iovance Biotherapeutics by 10.4% in the fourth quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock valued at $66,538,000 after acquiring an additional 846,936 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JMP Securities restated a “market perform” rating on shares of Iovance Biotherapeutics in a research note on Friday, May 9th. HC Wainwright decreased their price target on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Robert W. Baird decreased their price target on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Citizens Jmp downgraded shares of Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a research note on Friday, May 9th. Finally, Truist Financial downgraded shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.30.

Iovance Biotherapeutics Stock Down 8.1%

Shares of Iovance Biotherapeutics stock opened at $1.76 on Thursday. The company has a market capitalization of $586.05 million, a price-to-earnings ratio of -1.18 and a beta of 1.06. Iovance Biotherapeutics, Inc. has a 12-month low of $1.64 and a 12-month high of $12.51. The firm’s 50-day moving average price is $3.05 and its two-hundred day moving average price is $5.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). The company had revenue of $49.32 million during the quarter, compared to the consensus estimate of $83.40 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm’s revenue was up 6795.1% compared to the same quarter last year. During the same period last year, the company posted ($0.42) EPS. On average, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

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.