Handelsbanken Fonder AB Purchases 11,500 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Handelsbanken Fonder AB raised its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 18.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,800 shares of the biotechnology company’s stock after acquiring an additional 11,500 shares during the period. Handelsbanken Fonder AB’s holdings in Iovance Biotherapeutics were worth $702,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IOVA. Chicago Partners Investment Group LLC raised its holdings in Iovance Biotherapeutics by 15.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company’s stock valued at $157,000 after acquiring an additional 2,688 shares in the last quarter. Vanguard Group Inc. raised its holdings in Iovance Biotherapeutics by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 22,812,820 shares of the biotechnology company’s stock valued at $185,468,000 after acquiring an additional 669,350 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Iovance Biotherapeutics by 42.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 407,429 shares of the biotechnology company’s stock valued at $6,038,000 after acquiring an additional 121,395 shares in the last quarter. Diversified Trust Co raised its holdings in Iovance Biotherapeutics by 14.8% in the 1st quarter. Diversified Trust Co now owns 15,511 shares of the biotechnology company’s stock valued at $230,000 after acquiring an additional 1,999 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Iovance Biotherapeutics by 81.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 53,708 shares of the biotechnology company’s stock valued at $796,000 after acquiring an additional 24,106 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IOVA shares. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $10.00 in a research note on Monday, July 29th. Finally, JMP Securities decreased their price target on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Iovance Biotherapeutics Trading Up 2.9 %

NASDAQ IOVA opened at $9.74 on Friday. The business’s 50-day moving average price is $10.10 and its two-hundred day moving average price is $10.14. Iovance Biotherapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $18.33. The firm has a market capitalization of $2.73 billion, a PE ratio of -5.41 and a beta of 0.62.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $31.11 million for the quarter, compared to the consensus estimate of $24.59 million. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The firm’s revenue was up 12969.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.47) EPS. As a group, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.26 earnings per share for the current fiscal year.

Iovance Biotherapeutics Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.