SG Americas Securities LLC Has $4 Million Stock Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

SG Americas Securities LLC lifted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 836.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 498,390 shares of the biotechnology company’s stock after buying an additional 445,172 shares during the quarter. SG Americas Securities LLC owned about 0.18% of Iovance Biotherapeutics worth $3,997,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its stake in shares of Iovance Biotherapeutics by 1,227.8% in the 4th quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 4,678 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Iovance Biotherapeutics by 284.0% during 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 period. Signaturefd LLC boosted its position in Iovance Biotherapeutics by 256.6% during 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 period. Fidelis Capital Partners LLC acquired a new stake in Iovance Biotherapeutics during the 1st quarter worth approximately $87,000. Finally, Calton & Associates Inc. acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $98,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Wall Street Analysts Forecast Growth

IOVA has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Monday. Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $19.00 to $10.00 in a research note on Monday, July 29th. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research note on Monday. Finally, JMP Securities lowered their price objective on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA opened at $10.09 on Tuesday. The company’s 50-day moving average is $8.28 and its 200 day moving average is $10.87. The company has a market capitalization of $2.82 billion, a P/E ratio of -5.60 and a beta of 0.63. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $31.11 million for the quarter, compared to the consensus estimate of $24.59 million. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The firm’s quarterly revenue was up 12969.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.47) EPS. As a group, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.39 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.