Hsbc Holdings PLC Buys 156,517 Shares of Iovance Biotherapeutics, Inc. $IOVA

Hsbc Holdings PLC boosted its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 651.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,541 shares of the biotechnology company’s stock after buying an additional 156,517 shares during the quarter. Hsbc Holdings PLC’s holdings in Iovance Biotherapeutics were worth $497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of IOVA. State Street Corp raised its stake in shares of 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 during the period. Palo Alto Investors LP boosted its stake in shares of Iovance Biotherapeutics by 122.1% during the 3rd 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 during the period. HRT Financial LP grew its holdings in Iovance Biotherapeutics by 1,078.3% during the 4th 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Iovance Biotherapeutics by 202.8% during the 1st 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 last quarter. Finally, Vanguard Group Inc. raised its position in Iovance Biotherapeutics by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock worth $74,275,000 after purchasing an additional 3,148,096 shares during the period. Institutional investors own 77.03% of the company’s stock.

Analyst Ratings Changes

IOVA has been the subject of several analyst reports. Chardan Capital decreased their price objective on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Finally, Truist Financial upgraded Iovance Biotherapeutics to a “hold” rating in a report on Wednesday, March 25th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.43.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA opened at $4.66 on Friday. Iovance Biotherapeutics, Inc. has a 1-year low of $1.76 and a 1-year high of $5.63. The business has a fifty day moving average price of $4.03 and a 200 day moving average price of $3.54. The stock has a market capitalization of $2.08 billion, a P/E ratio of -4.91 and a beta of 0.70.

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

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.