Man Group plc Makes New Investment in Iovance Biotherapeutics Inc (NASDAQ:IOVA)

Man Group plc purchased a new position in shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 82,283 shares of the biotechnology company’s stock, valued at approximately $1,498,000.

Other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp acquired a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth about $270,000. JPMorgan Chase & Co. boosted its position in shares of Iovance Biotherapeutics by 4.4% in the second quarter. JPMorgan Chase & Co. now owns 464,176 shares of the biotechnology company’s stock worth $10,486,000 after acquiring an additional 19,532 shares during the last quarter. BlackRock Inc. boosted its position in shares of Iovance Biotherapeutics by 5.9% in the second quarter. BlackRock Inc. now owns 9,355,972 shares of the biotechnology company’s stock worth $229,410,000 after acquiring an additional 520,445 shares during the last quarter. Atika Capital Management LLC acquired a new stake in shares of Iovance Biotherapeutics in the second quarter worth approximately $4,536,000. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Iovance Biotherapeutics by 21.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 109,000 shares of the biotechnology company’s stock worth $2,462,000 after acquiring an additional 19,000 shares during the last quarter. 98.10% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on IOVA shares. Chardan Capital reissued a “buy” rating and issued a $33.00 target price on shares of Iovance Biotherapeutics in a research report on Thursday, November 21st. Jefferies Financial Group set a $33.00 target price on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research report on Monday, August 26th. Zacks Investment Research raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Stifel Nicolaus started coverage on shares of Iovance Biotherapeutics in a research report on Monday, September 30th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, B. Riley set a $28.00 target price on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $29.27.

IOVA opened at $26.14 on Friday. The stock has a market capitalization of $3.30 billion, a PE ratio of -20.58 and a beta of 1.98. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.61 and a current ratio of 10.61. Iovance Biotherapeutics Inc has a 1 year low of $7.26 and a 1 year high of $26.59. The company’s 50 day simple moving average is $22.69 and its 200 day simple moving average is $21.50.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Monday, November 4th. The biotechnology company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). As a group, sell-side analysts expect that Iovance Biotherapeutics Inc will post -1.5 earnings per share for the current fiscal year.

Iovance Biotherapeutics Profile

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is lifileucel, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.

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Institutional Ownership by Quarter for Iovance Biotherapeutics (NASDAQ:IOVA)

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