Rafferty Asset Management LLC Increases Stake in Iovance Biotherapeutics, Inc. $IOVA

Rafferty Asset Management LLC lifted its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 65.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 482,975 shares of the biotechnology company’s stock after purchasing an additional 190,522 shares during the period. Rafferty Asset Management LLC owned about 0.12% of Iovance Biotherapeutics worth $1,048,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. R Squared Ltd boosted its position in Iovance Biotherapeutics by 41.4% during the third quarter. R Squared Ltd now owns 16,043 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 4,700 shares during the period. Diversify Wealth Management LLC increased its holdings in shares of Iovance Biotherapeutics by 100.0% in the third quarter. Diversify Wealth Management LLC now owns 40,000 shares of the biotechnology company’s stock worth $87,000 after buying an additional 20,000 shares during the period. NEOS Investment Management LLC purchased a new position in shares of Iovance Biotherapeutics in the third quarter worth about $377,000. PNC Financial Services Group Inc. lifted its stake in shares of Iovance Biotherapeutics by 22,898.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 51,056 shares of the biotechnology company’s stock valued at $111,000 after acquiring an additional 50,834 shares during the last quarter. Finally, Aberdeen Group plc lifted its stake in shares of Iovance Biotherapeutics by 17.6% in the 3rd quarter. Aberdeen Group plc now owns 607,210 shares of the biotechnology company’s stock valued at $1,318,000 after acquiring an additional 90,921 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

NASDAQ IOVA opened at $5.13 on Friday. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $5.35. The stock has a 50 day simple moving average of $2.87 and a two-hundred day simple moving average of $2.50. The stock has a market cap of $2.11 billion, a P/E ratio of -4.58 and a beta of 0.69.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The firm had revenue of $86.77 million for the quarter, compared to analyst estimates of $81.61 million. Iovance Biotherapeutics had a negative return on equity of 54.54% and a negative net margin of 148.41%. Sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on IOVA shares. The Goldman Sachs Group restated a “sell” rating and set a $2.00 price target on shares of Iovance Biotherapeutics in a research report on Thursday, February 5th. Barclays boosted 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. Chardan Capital dropped their price objective on Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Wall Street Zen raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Citizens Jmp raised shares of Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 price target for the company in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued 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 price target of $8.88.

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.