Rice Hall James & Associates LLC Acquires Shares of 1,539,840 Iovance Biotherapeutics, Inc. $IOVA

Rice Hall James & Associates LLC acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,539,840 shares of the biotechnology company’s stock, valued at approximately $6,406,000. Rice Hall James & Associates LLC owned about 0.34% of Iovance Biotherapeutics at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IOVA. Arcataur Capital Management LLC acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $29,000. Granite Investment Partners LLC purchased a new position in Iovance Biotherapeutics in the fourth quarter valued at about $29,000. Motley Fool Asset Management LLC acquired a new stake in Iovance Biotherapeutics during the 4th quarter valued at approximately $29,000. M&T Bank Corp acquired a new stake in Iovance Biotherapeutics during the 4th quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. increased its holdings in 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 purchasing an additional 7,269 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on IOVA. Citizens Jmp upped their target price on Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Barclays raised their price target on shares of Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Chardan Capital dropped their price target on shares of 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 reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Finally, Robert W. Baird set a $6.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.00.

Iovance Biotherapeutics Stock Up 1.7%

Shares of Iovance Biotherapeutics stock opened at $7.10 on Tuesday. The business has a 50-day moving average price of $4.71 and a 200 day moving average price of $3.98. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $7.25. The firm has a market cap of $3.22 billion, a P/E ratio of -9.73 and a beta of 0.71.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 65.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.33) EPS. As a group, equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -0.5 earnings per share for the current 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.