Knott David M Jr Acquires Shares of 1,600,000 Iovance Biotherapeutics, Inc. $IOVA

Knott David M Jr bought a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,600,000 shares of the biotechnology company’s stock, valued at approximately $5,616,000. Iovance Biotherapeutics comprises 3.3% of Knott David M Jr’s holdings, making the stock its 8th largest holding.

Several other hedge funds also recently made changes to their positions in IOVA. Mirador Capital Partners LP grew its holdings in Iovance Biotherapeutics by 100.9% in the fourth quarter. Mirador Capital Partners LP now owns 1,034,544 shares of the biotechnology company’s stock worth $2,824,000 after purchasing an additional 519,519 shares during the period. Aberdeen Group plc boosted its position in shares of Iovance Biotherapeutics by 25.1% in the 4th quarter. Aberdeen Group plc now owns 759,522 shares of the biotechnology company’s stock worth $2,073,000 after purchasing an additional 152,312 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Iovance Biotherapeutics by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock worth $74,275,000 after purchasing an additional 3,148,096 shares in the last quarter. Profund Advisors LLC grew its stake in shares of Iovance Biotherapeutics by 149.7% in the 4th quarter. Profund Advisors LLC now owns 260,660 shares of the biotechnology company’s stock worth $712,000 after buying an additional 156,253 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in Iovance Biotherapeutics during the 4th quarter valued at approximately $532,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Chardan Capital lowered their price objective on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.43.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA opened at $5.13 on Friday. Iovance Biotherapeutics, Inc. has a 1 year low of $1.76 and a 1 year high of $5.64. The stock has a market cap of $2.29 billion, a PE ratio of -5.40 and a beta of 0.70. The firm has a fifty day moving average price of $4.18 and a 200-day moving average price of $3.62.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.19). Iovance Biotherapeutics had a negative net margin of 123.92% and a negative return on equity of 50.17%. The firm had revenue of $71.43 million for the quarter, compared to analysts’ expectations of $77.84 million. During the same quarter last year, the business posted ($0.36) earnings per share. The company’s revenue for the quarter was up 44.9% compared to the same quarter last year. On average, research analysts expect that Iovance Biotherapeutics, Inc. will post -0.62 EPS for the current year.

Iovance Biotherapeutics 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.