Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 64,724 shares of the biotechnology company’s stock, valued at approximately $269,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Granite Investment Partners LLC acquired a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at $29,000. Motley Fool Asset Management LLC bought a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $29,000. M&T Bank Corp bought a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $31,000. SBI Securities Co. Ltd. raised its holdings in shares of Iovance Biotherapeutics by 169.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 11,568 shares of the biotechnology company’s stock worth $32,000 after buying an additional 7,269 shares in the last quarter. Finally, KBC Group NV acquired a new position in shares of Iovance Biotherapeutics during the 1st quarter worth $34,000. 77.03% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently weighed in on IOVA shares. Chardan Capital reduced their price objective on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. UBS Group increased their target price on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup restated an “outperform” rating on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Finally, Citizens Jmp lifted their price target on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.75.
Iovance Biotherapeutics Stock Performance
Shares of NASDAQ:IOVA opened at $8.29 on Friday. Iovance Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $9.36. The company has a market capitalization of $3.76 billion, a PE ratio of -11.36 and a beta of 0.71. The company has a fifty day moving average of $5.05 and a 200-day moving average of $4.12.
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $198.63 million for the quarter, compared to the consensus estimate of $87.83 million. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.Iovance Biotherapeutics’s revenue for the quarter was up 65.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.33) EPS. On average, equities analysts forecast that Iovance Biotherapeutics, Inc. will post -0.48 EPS for the current fiscal year.
Iovance Biotherapeutics Company Profile
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.
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