Tema ETFs LLC Increases Stock Holdings in Iovance Biotherapeutics, Inc. $IOVA

Tema ETFs LLC grew its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 52.1% during the second quarter, Holdings Channel reports. The firm owned 280,048 shares of the biotechnology company’s stock after purchasing an additional 95,933 shares during the period. Tema ETFs LLC’s holdings in Iovance Biotherapeutics were worth $1,165,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. KBC Group NV acquired a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at $34,000. Arcataur Capital Management LLC purchased a new stake in Iovance Biotherapeutics in the fourth quarter valued at $29,000. Granite Investment Partners LLC purchased a new stake in Iovance Biotherapeutics in the fourth quarter valued at $29,000. Motley Fool Asset Management LLC purchased a new stake in Iovance Biotherapeutics in the fourth quarter valued at $29,000. Finally, Sanctuary Advisors LLC acquired a new position in Iovance Biotherapeutics in the first quarter valued at $38,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $6.52 on Friday. The company has a market capitalization of $2.95 billion, a P/E ratio of -8.93 and a beta of 0.71. Iovance Biotherapeutics, Inc. has a 1 year low of $1.76 and a 1 year high of $6.92. The company’s fifty day moving average is $4.60 and its two-hundred day moving average is $3.92.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.92%. The business had revenue of $198.63 million during the quarter, compared to analysts’ expectations of $87.83 million. During the same period in the prior year, the company earned ($0.33) earnings per share. The business’s revenue was up 65.7% compared to the same quarter last year. As a group, equities analysts expect that Iovance Biotherapeutics, Inc. will post -0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

IOVA has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Citigroup reissued an “outperform” rating on shares of Iovance Biotherapeutics in a report on Friday, August 7th. Barclays raised their price target on Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Citizens Jmp lifted their price target on Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. Finally, Robert W. Baird set a $6.00 price objective on Iovance Biotherapeutics in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.00.

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.