Invenomic Capital Management LP Purchases 1,417,897 Shares of Iovance Biotherapeutics, Inc. $IOVA

Invenomic Capital Management LP boosted its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 13.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,959,505 shares of the biotechnology company’s stock after purchasing an additional 1,417,897 shares during the period. Iovance Biotherapeutics makes up approximately 1.5% of Invenomic Capital Management LP’s investment portfolio, making the stock its 17th biggest holding. Invenomic Capital Management LP’s holdings in Iovance Biotherapeutics were worth $32,649,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Iovance Biotherapeutics by 13.1% in the fourth quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock worth $74,275,000 after purchasing an additional 3,148,096 shares during the last quarter. State Street Corp increased its position in shares of Iovance Biotherapeutics by 51.5% during the fourth quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company’s stock worth $55,041,000 after acquiring an additional 6,851,486 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Iovance Biotherapeutics by 30.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,607,564 shares of the biotechnology company’s stock worth $23,499,000 after acquiring an additional 2,032,062 shares during the period. Geode Capital Management LLC increased its position in shares of Iovance Biotherapeutics by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 7,991,640 shares of the biotechnology company’s stock worth $21,821,000 after acquiring an additional 1,123,337 shares during the period. Finally, Palo Alto Investors LP increased its position in shares of Iovance Biotherapeutics by 122.1% during the third quarter. Palo Alto Investors LP now owns 7,618,132 shares of the biotechnology company’s stock worth $16,531,000 after acquiring an additional 4,188,803 shares during the period. Institutional investors own 77.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citizens Jmp raised shares of Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 target price on the stock in a research report on Tuesday, March 3rd. Truist Financial raised shares of Iovance Biotherapeutics to a “hold” rating in a research report on Wednesday, March 25th. Barclays raised their target price on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Wall Street Zen raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, UBS Group raised their target price on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Five investment 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 stock presently has a consensus rating of “Hold” and a consensus target price of $8.43.

Iovance Biotherapeutics Stock Up 2.9%

Shares of IOVA stock opened at $3.93 on Thursday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -4.14 and a beta of 0.74. The company’s 50 day moving average is $3.77 and its 200 day moving average is $3.27. Iovance Biotherapeutics, Inc. has a 52-week low of $1.66 and a 52-week high of $5.63.

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