145,473 Shares in Iovance Biotherapeutics, Inc. $IOVA Purchased by Wedbush Securities Inc.

Key Points

• Wedbush Securities purchased 145,473 shares of Iovance Biotherapeutics worth approximately $605,000, while institutional investors collectively own 77.03% of the company.
• Analyst sentiment is mixed: seven analysts rate IOVA a Buy, two rate it Hold, and two rate it Sell, resulting in an overall “Hold” rating and an average price target of $8.89.
• Iovance reported a quarterly loss of $0.11 per share, beating estimates, while revenue reached $198.63 million—up 65.7% year over year and well above analyst expectations.

Wedbush Securities Inc. purchased a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 145,473 shares of the biotechnology company's stock, valued at approximately $605,000.

A number of other large investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Iovance Biotherapeutics by 11.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,646 shares of the biotechnology company's stock valued at $2,191,000 after acquiring an additional 52,547 shares during the last quarter. Hsbc Holdings PLC increased its position in Iovance Biotherapeutics by 148.1% in the second quarter. Hsbc Holdings PLC now owns 68,190 shares of the biotechnology company's stock worth $292,000 after purchasing an additional 40,706 shares during the last quarter. Wellington Management Group LLP bought a new stake in Iovance Biotherapeutics in the second quarter worth $531,000. Palo Alto Investors LP purchased a new stake in Iovance Biotherapeutics during the second quarter valued at $22,032,229. Finally, Corient Private Wealth LP purchased a new stake in Iovance Biotherapeutics during the second quarter valued at $220,000. Institutional investors own 77.03% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on IOVA shares. Robert W. Baird set a $6.00 target price on shares of Iovance Biotherapeutics in a report on Friday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. TD Cowen lifted their price target on Iovance Biotherapeutics from $7.00 to $10.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Citizens Jmp boosted their price objective on Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. Finally, UBS Group boosted their price objective on Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a "neutral" rating in a research note on Thursday, August 20th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Iovance Biotherapeutics presently has an average rating of "Hold" and a consensus target price of $8.89.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $8.28 on Wednesday. The firm has a market capitalization of $3.75 billion, a P/E ratio of -11.34 and a beta of 0.82. Iovance Biotherapeutics, Inc. has a 1-year low of $1.76 and a 1-year high of $9.36. The company's 50-day moving average is $5.63 and its 200 day moving average is $4.41.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $198.63 million during the quarter, compared to analyst estimates of $87.83 million. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The company's revenue for the quarter was up 65.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.33) earnings per share. Research analysts anticipate that Iovance Biotherapeutics, Inc. will post -0.49 earnings per share 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.

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