Wellington Management Group LLP Makes New $531,000 Investment in Iovance Biotherapeutics, Inc. $IOVA

Wellington Management Group LLP acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVAFree Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 127,740 shares of the biotechnology company’s stock, valued at approximately $531,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Iovance Biotherapeutics during the second quarter valued at approximately $153,744,000. State Street Corp raised its position in Iovance Biotherapeutics by 51.5% in the 4th quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company’s stock worth $55,041,000 after purchasing an additional 6,851,486 shares during the last quarter. Palo Alto Investors LP acquired a new position in Iovance Biotherapeutics during the 2nd quarter worth $22,032,229. Bank of America Corp DE acquired a new position in Iovance Biotherapeutics during the 2nd quarter worth $20,773,000. Finally, HRT Financial LP boosted its position in Iovance Biotherapeutics by 1,078.3% in the 4th quarter. HRT Financial LP now owns 4,356,010 shares of the biotechnology company’s stock valued at $11,891,000 after buying an additional 3,986,314 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IOVA shares. Barclays lifted their target price on Iovance Biotherapeutics from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Citigroup reaffirmed an “outperform” rating on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Citizens Jmp raised their price target on Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. TD Cowen boosted their price objective on Iovance Biotherapeutics from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Finally, UBS Group upped their target price on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.89.

Read Our Latest Report on IOVA

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $8.60 on Friday. The firm has a fifty day moving average of $6.33 and a two-hundred day moving average of $4.73. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of -11.78 and a beta of 0.83. Iovance Biotherapeutics, Inc. has a 52 week low of $1.76 and a 52 week high of $9.36.

Iovance Biotherapeutics (NASDAQ:IOVAGet Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The business had revenue of $198.63 million for the quarter, compared to analyst estimates of $87.83 million. During the same period last year, the company earned ($0.33) EPS. The firm’s revenue was up 65.7% on a year-over-year basis. As a group, research analysts forecast that Iovance Biotherapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Iovance Biotherapeutics Profile

(Free Report)

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.

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

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