Man Group plc Buys Shares of 252,959 Iovance Biotherapeutics, Inc. $IOVA

Man Group plc purchased a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 252,959 shares of the biotechnology company’s stock, valued at approximately $1,052,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Iovance Biotherapeutics in the second quarter valued at approximately $153,744,000. State Street Corp grew its position in Iovance Biotherapeutics by 51.5% in the fourth quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company’s stock valued at $55,041,000 after purchasing an additional 6,851,486 shares in the last quarter. Palo Alto Investors LP increased its stake in Iovance Biotherapeutics by 122.1% in the 3rd quarter. Palo Alto Investors LP now owns 7,618,132 shares of the biotechnology company’s stock valued at $16,531,000 after buying an additional 4,188,803 shares during the last quarter. HRT Financial LP lifted its position in Iovance Biotherapeutics by 1,078.3% during the 4th quarter. HRT Financial LP now owns 4,356,010 shares of the biotechnology company’s stock worth $11,891,000 after buying an additional 3,986,314 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Iovance Biotherapeutics by 202.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock worth $19,239,000 after buying an additional 3,869,617 shares during the last quarter. 77.03% of the stock is owned by institutional investors.

Iovance Biotherapeutics Stock Performance

Shares of IOVA stock opened at $8.62 on Thursday. The firm’s 50-day moving average is $5.72 and its 200-day moving average is $4.45. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of -11.81 and a beta of 0.83. Iovance Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $9.36.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $198.63 million during the quarter, compared to analysts’ expectations of $87.83 million. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.Iovance Biotherapeutics’s quarterly revenue was up 65.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.33) earnings per share. Sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Chardan Capital decreased their price objective on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Citizens Jmp increased their price target on Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Mizuho raised their price target on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Barclays boosted their price target on Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.89.

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.