108,050 Shares in Iovance Biotherapeutics, Inc. $IOVA Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems et al. purchased 108,050 Iovance Biotherapeutics shares worth approximately $449,000 during the second quarter. Institutional investors and hedge funds collectively own 77.03% of IOVA.
• Analyst sentiment is mixed but generally improving: price targets were raised by UBS, JMP, Barclays, and Mizuho, while the consensus rating remains Hold with an average target price of $8.89.
• Iovance reported better-than-expected quarterly results, including a $0.11 adjusted loss per share versus estimates of $0.13 and revenue of $99.31 million, up 65.7% year over year. Its shares opened at $9.36, near the 12-month high of $9.41.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 108,050 shares of the biotechnology company's stock, valued at approximately $449,000.

Other large investors have also recently added to or reduced their stakes in the company. KBC Group NV acquired a new position in shares of Iovance Biotherapeutics during the 1st quarter worth about $34,000. Sanctuary Advisors LLC acquired a new stake in Iovance Biotherapeutics in the 1st quarter valued at about $38,000. Fifth Third Bancorp bought a new position in Iovance Biotherapeutics during the first quarter worth about $39,000. Ceera Investments LLC bought a new position in Iovance Biotherapeutics during the first quarter worth about $44,000. Finally, First National Bank & Trust Co. of Newtown acquired a new position in Iovance Biotherapeutics during the second quarter worth approximately $51,000. Institutional investors and hedge funds own 77.03% of the company's stock.

Analyst Ratings Changes

IOVA has been the topic of several research analyst reports. UBS Group upped their price objective on Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a "neutral" rating in a research note on Thursday, August 20th. Citizens Jmp raised their target price on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. Citigroup reaffirmed an "outperform" rating on shares of Iovance Biotherapeutics in a report on Friday, August 7th. Barclays upped their price target on shares of Iovance Biotherapeutics from $11.00 to $13.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, Mizuho increased their price target on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $8.89.

Iovance Biotherapeutics Trading Up 1.1%

Shares of IOVA opened at $9.36 on Wednesday. Iovance Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $9.41. The firm's 50 day moving average is $6.53 and its 200-day moving average is $4.82. The stock has a market capitalization of $4.24 billion, a PE ratio of -12.82 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings results 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 $99.31 million for the quarter, compared to analysts' expectations of $87.83 million. During the same quarter last year, the business earned ($0.33) earnings per share. Iovance Biotherapeutics's revenue was up 65.7% on a year-over-year basis. Equities research analysts predict that Iovance Biotherapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. Its platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient's tumor, expanded in a manufacturing facility and returned to the patient to help recognize and attack cancer cells.

The company's lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.

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