Wellington Management Group LLP Acquires New Holdings in Iovance Biotherapeutics, Inc. $IOVA

Wellington Management Group LLP bought a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 127,740 shares of the biotechnology company’s stock, valued at approximately $531,000.

Several other hedge funds also recently bought and sold shares of IOVA. Palo Alto Investors LP bought a new position in shares of Iovance Biotherapeutics during the second quarter worth $22,032,229. Corient Private Wealth LP bought a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at $220,000. Bank of America Corp DE acquired a new stake in Iovance Biotherapeutics during the 2nd quarter worth $20,773,000. Freestone Grove Partners LP acquired a new stake in Iovance Biotherapeutics during the 2nd quarter worth $178,000. Finally, Man Group plc bought a new position in Iovance Biotherapeutics during the second quarter worth about $1,052,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IOVA has been the subject of several recent analyst reports. 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. 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 report on Friday, August 7th. Barclays increased their target price on Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Robert W. Baird set a $6.00 target price on shares of Iovance Biotherapeutics in a report on Friday, August 7th. Finally, Mizuho lifted their price target on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Iovance Biotherapeutics has an average rating of “Hold” and an average price target of $8.89.

Iovance Biotherapeutics Price Performance

IOVA opened at $8.60 on Friday. The business’s 50-day moving average price is $6.33 and its two-hundred day moving average price is $4.73. Iovance Biotherapeutics, Inc. has a 1 year low of $1.76 and a 1 year high of $9.36. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -11.78 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly 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. The company had revenue of $198.63 million for the quarter, compared to analyst estimates of $87.83 million. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The company’s quarterly revenue was up 65.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.33) earnings per share. Sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. Its platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded in a manufacturing facility and returned to the patient to help recognize and attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.