UBS Group AG Lowers Position in Iovance Biotherapeutics, Inc. $IOVA

UBS Group AG lowered its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 18.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 764,154 shares of the biotechnology company’s stock after selling 172,350 shares during the period. UBS Group AG owned approximately 0.19% of Iovance Biotherapeutics worth $2,086,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Arcataur Capital Management LLC bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at about $29,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Iovance Biotherapeutics during the third quarter worth approximately $27,000. Federated Hermes Inc. lifted its holdings in shares of Iovance Biotherapeutics by 67.6% in the 3rd quarter. Federated Hermes Inc. now owns 15,111 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 6,095 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Iovance Biotherapeutics in the 3rd quarter worth approximately $34,000. Finally, R Squared Ltd lifted its holdings in shares of Iovance Biotherapeutics by 41.4% in the 3rd quarter. R Squared Ltd now owns 16,043 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 4,700 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on IOVA shares. UBS Group raised their price target on Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Monday, April 6th. Barclays raised their price target on Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock 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, The Goldman Sachs Group restated a “sell” rating and set a $2.00 price target on shares of Iovance Biotherapeutics in a research report on Thursday, February 5th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Hold” and an average target price of $8.43.

Iovance Biotherapeutics Stock Performance

Shares of IOVA stock opened at $4.37 on Thursday. The firm has a market cap of $1.95 billion, a P/E ratio of -4.60 and a beta of 0.69. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $5.63. The business’s 50 day moving average price is $3.65 and its 200-day moving average price is $3.10.

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

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.