252,959 Shares in Iovance Biotherapeutics, Inc. $IOVA Bought by Man Group plc

Key Points

• Man Group plc acquired 252,959 shares of Iovance Biotherapeutics in the second quarter, valued at approximately $1.05 million and representing about 0.06% of the company. Other hedge funds also initiated positions, while institutional investors collectively own 77.03% of IOVA.
• Iovance reported stronger-than-expected quarterly results, with a loss of $0.11 per share versus the $0.13 expected and revenue of $198.63 million, up 65.7% year over year. Despite the growth, the company remains unprofitable, with an 89.11% negative net margin.
• Analyst sentiment is mixed: seven analysts rate the stock Buy, two Hold, and two Sell, producing a consensus Hold rating and an $8.89 target price. Shares opened at $8.62, after rising 4.1%.

Man Group plc acquired a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 252,959 shares of the biotechnology company's stock, valued at approximately $1,052,000. Man Group plc owned about 0.06% of Iovance Biotherapeutics at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Jupiter Topco LLC bought a new position in Iovance Biotherapeutics during the second quarter worth about $589,000. ADAR1 Capital Management LLC bought a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at about $608,000. Hsbc Holdings PLC bought a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at about $292,000. EFG International AG acquired a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at approximately $166,000. Finally, Legal & General Group Plc acquired a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at approximately $1,079,000. Institutional investors and hedge funds own 77.03% of the company's stock.

Iovance Biotherapeutics Stock Up 4.1%

Shares of IOVA stock opened at $8.62 on Thursday. The firm has a fifty day moving average of $5.72 and a 200-day moving average of $4.45. Iovance Biotherapeutics, Inc. has a 12-month low of $1.76 and a 12-month high of $9.36. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -11.81 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $198.63 million for the quarter, compared to analysts' expectations of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The firm's revenue was up 65.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.33) EPS. On average, equities analysts expect that Iovance Biotherapeutics, Inc. will post -0.49 EPS for the current year.

Analysts Set New Price Targets

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

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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