262,147 Shares in Iovance Biotherapeutics, Inc. $IOVA Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 262,147 shares of the biotechnology company’s stock, valued at approximately $1,091,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Iovance Biotherapeutics in the 2nd quarter valued at $153,744,000. State Street Corp increased its stake 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 acquiring an additional 6,851,486 shares during the last quarter. Palo Alto Investors LP raised its holdings in shares of Iovance Biotherapeutics by 122.1% in the 3rd quarter. Palo Alto Investors LP now owns 7,618,132 shares of the biotechnology company’s stock valued at $16,531,000 after acquiring an additional 4,188,803 shares in the last quarter. HRT Financial LP raised its holdings in shares of 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 acquiring an additional 3,986,314 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Iovance Biotherapeutics by 202.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock valued at $19,239,000 after acquiring an additional 3,869,617 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $8.79 on Friday. Iovance Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $9.36. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -12.04 and a beta of 0.83. The company has a fifty day moving average of $5.90 and a 200-day moving average of $4.53.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) EPS 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 analyst estimates of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The firm’s quarterly revenue was up 65.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.33) EPS. On average, equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. 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. Citigroup reiterated an “outperform” rating on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. Citizens Jmp increased their price target on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Thursday, July 2nd. Finally, Mizuho lifted their price objective on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.89.

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.