Knott David M Jr Buys New Position in Iovance Biotherapeutics, Inc. $IOVA

Knott David M Jr purchased a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,600,000 shares of the biotechnology company’s stock, valued at approximately $5,616,000. Iovance Biotherapeutics makes up approximately 3.3% of Knott David M Jr’s portfolio, making the stock its 8th largest position. Knott David M Jr owned approximately 0.36% of Iovance Biotherapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 acquiring an additional 6,851,486 shares in the last quarter. Palo Alto Investors LP lifted its position in shares of Iovance Biotherapeutics by 122.1% during the third quarter. Palo Alto Investors LP now owns 7,618,132 shares of the biotechnology company’s stock worth $16,531,000 after purchasing an additional 4,188,803 shares in the last quarter. HRT Financial LP boosted its stake in shares of Iovance Biotherapeutics by 1,078.3% in the fourth quarter. HRT Financial LP now owns 4,356,010 shares of the biotechnology company’s stock valued at $11,891,000 after purchasing an additional 3,986,314 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Iovance Biotherapeutics by 202.8% in the first 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 valued at $19,239,000 after purchasing an additional 3,869,617 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Iovance Biotherapeutics by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock valued at $74,275,000 after purchasing an additional 3,148,096 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Chardan Capital dropped their price target on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.43.

Iovance Biotherapeutics Stock Down 0.8%

Shares of IOVA opened at $5.13 on Friday. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -5.40 and a beta of 0.70. The business’s 50 day moving average is $4.18 and its two-hundred day moving average is $3.62. Iovance Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $5.64.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.19). The business had revenue of $71.43 million during the quarter, compared to the consensus estimate of $77.84 million. Iovance Biotherapeutics had a negative net margin of 123.92% and a negative return on equity of 50.17%. The business’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.36) earnings per share. On average, equities analysts expect that Iovance Biotherapeutics, Inc. will post -0.62 earnings per share for the current fiscal year.

Iovance Biotherapeutics Profile

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.