Iovance Biotherapeutics, Inc. $IOVA Position Boosted by Profund Advisors LLC

Profund Advisors LLC raised its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 149.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,660 shares of the biotechnology company’s stock after acquiring an additional 156,253 shares during the quarter. Profund Advisors LLC’s holdings in Iovance Biotherapeutics were worth $712,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IOVA. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Iovance Biotherapeutics during the 3rd quarter valued at about $27,000. Arcataur Capital Management LLC purchased a new position in Iovance Biotherapeutics during the 4th quarter valued at about $29,000. M&T Bank Corp purchased a new position in Iovance Biotherapeutics during the 4th quarter valued at about $31,000. SBI Securities Co. Ltd. grew its stake 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 valued at $32,000 after acquiring an additional 7,269 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Iovance Biotherapeutics by 67.6% during the 3rd quarter. Federated Hermes Inc. now owns 15,111 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 6,095 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA opened at $4.11 on Friday. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -4.33 and a beta of 0.69. The business has a 50 day simple moving average of $3.63 and a 200 day simple moving average of $3.04. Iovance Biotherapeutics, Inc. has a 52 week low of $1.66 and a 52 week high of $5.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) EPS for the quarter, meeting the consensus estimate of ($0.19). Iovance Biotherapeutics had a negative return on equity of 50.17% and a negative net margin of 123.92%.The business had revenue of $71.43 million during the quarter, compared to analysts’ expectations of $77.84 million. During the same quarter in the previous year, the business posted ($0.36) EPS. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. On average, analysts predict that Iovance Biotherapeutics, Inc. will post -0.6 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on IOVA shares. Truist Financial raised Iovance Biotherapeutics to a “hold” rating in a research note on Wednesday, March 25th. UBS Group lifted their target price on Iovance Biotherapeutics from $2.00 to $4.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Barclays lifted their target price on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Chardan Capital lowered their target price on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Monday, April 6th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.43.

About Iovance Biotherapeutics

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.