Invenomic Capital Management LP Raises Stock Position in Iovance Biotherapeutics, Inc. $IOVA

Invenomic Capital Management LP boosted its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 13.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,959,505 shares of the biotechnology company’s stock after buying an additional 1,417,897 shares during the period. Iovance Biotherapeutics accounts for approximately 1.5% of Invenomic Capital Management LP’s holdings, making the stock its 17th biggest position. Invenomic Capital Management LP owned about 3.01% of Iovance Biotherapeutics worth $32,649,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of IOVA. 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 buying an additional 6,851,486 shares in the last quarter. Palo Alto Investors LP increased its stake in 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 worth $16,531,000 after buying an additional 4,188,803 shares in the last quarter. HRT Financial LP increased its stake 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 worth $11,891,000 after buying an additional 3,986,314 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Iovance Biotherapeutics by 202.8% in 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 worth $19,239,000 after buying an additional 3,869,617 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in 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 buying an additional 3,148,096 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA opened at $3.93 on Thursday. The company has a market cap of $1.75 billion, a P/E ratio of -4.14 and a beta of 0.74. Iovance Biotherapeutics, Inc. has a 1 year low of $1.66 and a 1 year high of $5.63. The firm has a 50-day simple moving average of $3.77 and a two-hundred day simple moving average of $3.27.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.19). The business had revenue of $71.43 million during the quarter, compared to the consensus estimate of $77.84 million. Iovance Biotherapeutics had a negative net margin of 123.92% and a negative return on equity of 50.17%. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.36) earnings per share. As a group, equities research analysts expect that Iovance Biotherapeutics, Inc. will post -0.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. UBS Group increased their price target on Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Wall Street Zen upgraded Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Barclays raised their price objective on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Truist Financial upgraded Iovance Biotherapeutics to a “hold” rating in a research report on Wednesday, March 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Monday, April 6th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.43.

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.