Sumitomo Mitsui Trust Holdings Inc. Has $24.69 Million Stock Position in Iovance Biotherapeutics Inc (NASDAQ:IOVA)

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Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,356,302 shares of the biotechnology company’s stock after purchasing an additional 92,206 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Iovance Biotherapeutics were worth $24,685,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in IOVA. Vanguard Group Inc. increased its stake in shares of Iovance Biotherapeutics by 46.3% during the 2nd quarter. Vanguard Group Inc. now owns 8,491,841 shares of the biotechnology company’s stock worth $208,220,000 after purchasing an additional 2,688,963 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Iovance Biotherapeutics by 72.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,023,903 shares of the biotechnology company’s stock worth $147,706,000 after purchasing an additional 2,531,169 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Iovance Biotherapeutics by 48.2% during the 2nd quarter. Bank of America Corp DE now owns 3,084,339 shares of the biotechnology company’s stock worth $75,627,000 after purchasing an additional 1,002,500 shares during the last quarter. Nikko Asset Management Americas Inc. increased its stake in shares of Iovance Biotherapeutics by 173.0% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 1,264,096 shares of the biotechnology company’s stock worth $30,996,000 after purchasing an additional 801,026 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Iovance Biotherapeutics by 1,946.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 715,908 shares of the biotechnology company’s stock worth $17,554,000 after purchasing an additional 680,922 shares during the last quarter. Institutional investors own 98.85% of the company’s stock.

Several research analysts have recently commented on IOVA shares. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Tuesday, November 5th. Stifel Nicolaus started coverage on shares of Iovance Biotherapeutics in a research note on Monday, September 30th. They set a “buy” rating and a $27.00 price target on the stock. Chardan Capital restated a “buy” rating and set a $33.00 price target on shares of Iovance Biotherapeutics in a research note on Friday. Zacks Investment Research upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, B. Riley set a $28.00 price target on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. Iovance Biotherapeutics currently has a consensus rating of “Buy” and an average target price of $29.27.

NASDAQ IOVA opened at $23.62 on Friday. The company has a market cap of $2.75 billion, a P/E ratio of -18.60 and a beta of 1.96. The company has a current ratio of 10.61, a quick ratio of 12.14 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $19.79 and a 200 day simple moving average of $19.64. Iovance Biotherapeutics Inc has a 1 year low of $7.26 and a 1 year high of $26.59.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Monday, November 4th. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). Equities research analysts forecast that Iovance Biotherapeutics Inc will post -1.49 EPS for the current fiscal year.

About Iovance Biotherapeutics

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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