Vanguard Group Inc. Buys 3,148,096 Shares of Iovance Biotherapeutics, Inc. $IOVA

Vanguard Group Inc. raised its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 13.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 27,207,079 shares of the biotechnology company’s stock after acquiring an additional 3,148,096 shares during the period. Vanguard Group Inc. owned approximately 6.85% of Iovance Biotherapeutics worth $74,275,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Arizona State Retirement System lifted its stake in Iovance Biotherapeutics by 8.4% during the 4th quarter. Arizona State Retirement System now owns 85,490 shares of the biotechnology company’s stock valued at $233,000 after acquiring an additional 6,640 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Iovance Biotherapeutics by 164.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 33,357 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 20,758 shares during the period. Arcataur Capital Management LLC bought a new stake in shares of Iovance Biotherapeutics in the fourth quarter worth $29,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Iovance Biotherapeutics by 47.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,914 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 15,992 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Iovance Biotherapeutics by 37.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,290 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 5,301 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

NASDAQ IOVA opened at $3.52 on Friday. The business’s fifty day moving average is $3.79 and its 200 day moving average is $2.99. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $5.63. The company has a market capitalization of $1.57 billion, a PE ratio of -3.71 and a beta of 0.69.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) EPS for the quarter, hitting analysts’ consensus estimates of ($0.19). The business had revenue of $71.43 million during the quarter, compared to analysts’ expectations of $77.84 million. Iovance Biotherapeutics had a negative return on equity of 50.17% and a negative net margin of 123.92%.The business’s quarterly revenue was up 44.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.36) earnings per share. On average, sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -0.6 EPS for the current year.

Analyst Upgrades and Downgrades

IOVA has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Monday, April 6th. Chardan Capital reduced their price objective on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. UBS Group upped their price objective on Iovance Biotherapeutics from $2.00 to $4.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. The Goldman Sachs Group reiterated a “sell” rating and set a $2.00 price objective on shares of Iovance Biotherapeutics in a research report on Thursday, February 5th. Finally, Barclays upped their price objective on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.43.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.