Invenomic Capital Management LP Raises Holdings in Iovance Biotherapeutics, Inc. $IOVA

Invenomic Capital Management LP lifted its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 27.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,541,608 shares of the biotechnology company’s stock after purchasing an additional 2,246,945 shares during the quarter. Iovance Biotherapeutics comprises about 1.1% of Invenomic Capital Management LP’s investment portfolio, making the stock its 26th biggest position. Invenomic Capital Management LP’s holdings in Iovance Biotherapeutics were worth $22,875,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vontobel Holding Ltd. purchased a new position in Iovance Biotherapeutics during the 3rd quarter valued at approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Iovance Biotherapeutics during the 3rd quarter worth approximately $27,000. WealthTrust Axiom LLC boosted its position in shares of Iovance Biotherapeutics by 80.0% during the 2nd quarter. WealthTrust Axiom LLC now owns 18,000 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 8,000 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Iovance Biotherapeutics by 67.6% in the third quarter. Federated Hermes Inc. now owns 15,111 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 6,095 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Iovance Biotherapeutics during the third quarter valued at $34,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Trading Down 2.7%

IOVA stock opened at $3.96 on Monday. Iovance Biotherapeutics, Inc. has a 12 month low of $1.64 and a 12 month high of $5.63. The company has a 50-day moving average price of $3.06 and a 200 day moving average price of $2.57. The stock has a market cap of $1.63 billion, a PE ratio of -3.54 and a beta of 0.68.

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

Analyst Ratings Changes

Several research firms have commented on IOVA. 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. UBS Group upped their target price on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Citizens Jmp upgraded 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, March 3rd. Barclays boosted their price objective on Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Finally, Wall Street Zen raised Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.