Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc grew its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 13.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,592 shares of the biotechnology company’s stock after acquiring an additional 8,800 shares during the period. Ensign Peak Advisors Inc’s holdings in Iovance Biotherapeutics were worth $598,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock worth $369,245,000 after acquiring an additional 2,102,480 shares during the period. Avoro Capital Advisors LLC raised its position in shares of Iovance Biotherapeutics by 74.6% during the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock worth $173,394,000 after purchasing an additional 5,000,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Iovance Biotherapeutics by 60.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock worth $78,071,000 after purchasing an additional 1,991,262 shares during the last quarter. Hood River Capital Management LLC raised its position in shares of Iovance Biotherapeutics by 31.1% during the 1st quarter. Hood River Capital Management LLC now owns 2,624,238 shares of the biotechnology company’s stock worth $38,891,000 after purchasing an additional 622,728 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Iovance Biotherapeutics by 26.4% during the 2nd quarter. Principal Financial Group Inc. now owns 2,536,243 shares of the biotechnology company’s stock worth $20,341,000 after purchasing an additional 530,338 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 3.9 %

IOVA stock opened at $9.61 on Friday. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -5.34 and a beta of 0.63. Iovance Biotherapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $18.33. The firm has a 50-day moving average of $9.90 and a two-hundred day moving average of $10.47.

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

Analyst Ratings Changes

Several research analysts recently weighed in on IOVA shares. JMP Securities reduced their price target on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a research report on Thursday, June 20th. Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

About Iovance Biotherapeutics

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.