Hsbc Holdings PLC Acquires New Holdings in Iovance Biotherapeutics, Inc. $IOVA

Hsbc Holdings PLC bought a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 68,190 shares of the biotechnology company’s stock, valued at approximately $292,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Iovance Biotherapeutics during the 2nd quarter valued at $153,744,000. Vanguard Group Inc. boosted its stake in shares of Iovance Biotherapeutics by 13.1% during the 4th 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 grew its holdings 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 buying an additional 6,851,486 shares in the last quarter. Invenomic Capital Management LP raised its position in shares of Iovance Biotherapeutics by 13.5% in the fourth quarter. Invenomic Capital Management LP now owns 11,959,505 shares of the biotechnology company’s stock valued at $32,649,000 after buying an additional 1,417,897 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Iovance Biotherapeutics by 30.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,607,564 shares of the biotechnology company’s stock valued at $23,499,000 after buying an additional 2,032,062 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IOVA has been the topic of a number of analyst reports. Mizuho raised their target price on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 18th. UBS Group lifted their price objective on Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Robert W. Baird set a $6.00 target price on Iovance Biotherapeutics in a research note on Friday, August 7th. TD Cowen raised their price target on Iovance Biotherapeutics from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.89.

Iovance Biotherapeutics Trading Up 1.0%

NASDAQ:IOVA opened at $8.79 on Friday. The firm’s fifty day simple moving average is $5.90 and its 200 day simple moving average is $4.53. Iovance Biotherapeutics, Inc. has a twelve month low of $1.76 and a twelve month high of $9.36. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -12.04 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The company had revenue of $198.63 million for the quarter, compared to analysts’ expectations of $87.83 million. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. The firm’s quarterly revenue was up 65.7% on a year-over-year basis. On average, analysts predict that Iovance Biotherapeutics, Inc. will post -0.49 earnings per share for the current year.

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.