292,962 Shares in Iovance Biotherapeutics, Inc. $IOVA Bought by Ieq Capital LLC

Ieq Capital LLC purchased a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 292,962 shares of the biotechnology company’s stock, valued at approximately $1,219,000.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Iovance Biotherapeutics by 161.2% during the first quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company’s stock valued at $1,740,000 after buying an additional 322,680 shares during the period. AQR Capital Management LLC grew its position in shares of Iovance Biotherapeutics by 279.0% in the 1st quarter. AQR Capital Management LLC now owns 59,540 shares of the biotechnology company’s stock worth $195,000 after buying an additional 43,829 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Iovance Biotherapeutics by 30.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock worth $18,554,000 after buying an additional 1,301,846 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Iovance Biotherapeutics by 202.8% in 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 worth $19,239,000 after acquiring an additional 3,869,617 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Iovance Biotherapeutics by 112.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 47,466 shares of the biotechnology company’s stock worth $82,000 after acquiring an additional 25,083 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on IOVA. Chardan Capital dropped their price objective 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. UBS Group raised their target price on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. TD Cowen lifted their target price on shares of Iovance Biotherapeutics from $7.00 to $10.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Thursday, July 2nd. Finally, Robert W. Baird set a $6.00 price target on Iovance Biotherapeutics in a research note on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.89.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $8.08 on Thursday. The business has a fifty day moving average price of $5.30 and a 200-day moving average price of $4.25. The company has a market capitalization of $3.66 billion, a PE ratio of -11.07 and a beta of 0.71. Iovance Biotherapeutics, Inc. has a 1-year low of $1.76 and a 1-year high of $9.36.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $198.63 million for the quarter, compared to analysts’ expectations of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. Iovance Biotherapeutics’s revenue was up 65.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.33) EPS. On average, sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -0.48 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.