262,147 Shares in Iovance Biotherapeutics, Inc. $IOVA Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 262,147 shares of the biotechnology company’s stock, valued at approximately $1,091,000. The Manufacturers Life Insurance Company owned about 0.06% of Iovance Biotherapeutics at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Iovance Biotherapeutics during the second quarter worth $153,744,000. Vanguard Group Inc. lifted its holdings in Iovance Biotherapeutics by 13.1% in the fourth quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock valued at $74,275,000 after buying an additional 3,148,096 shares during the period. State Street Corp boosted its position in Iovance Biotherapeutics by 51.5% during 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 during the last quarter. Invenomic Capital Management LP boosted its position in Iovance Biotherapeutics by 13.5% during the fourth quarter. Invenomic Capital Management LP now owns 11,959,505 shares of the biotechnology company’s stock valued at $32,649,000 after acquiring an additional 1,417,897 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Iovance Biotherapeutics by 30.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,607,564 shares of the biotechnology company’s stock worth $23,499,000 after acquiring an additional 2,032,062 shares during the period. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 1.0%

IOVA opened at $8.79 on Friday. Iovance Biotherapeutics, Inc. has a 1-year low of $1.76 and a 1-year high of $9.36. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -12.04 and a beta of 0.83. The company’s fifty day moving average price is $5.90 and its two-hundred day moving average price is $4.53.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IOVA. Citizens Jmp boosted their price objective on Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Barclays boosted their price target on Iovance Biotherapeutics from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. UBS Group increased their price target on Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. Finally, TD Cowen lifted their price objective on shares of Iovance Biotherapeutics from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, August 24th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.