ADAR1 Capital Management LLC Makes New Investment in Iovance Biotherapeutics, Inc. $IOVA

Key Points

• ADAR1 Capital Management acquired 146,090 shares of Iovance Biotherapeutics in the second quarter, valued at approximately $608,000. Institutional investors and hedge funds collectively own 77.03% of the company.
• Iovance reported quarterly revenue of $198.63 million, up 65.7% year over year and well above analysts’ $87.83 million estimate; its loss of $0.11 per share also beat expectations.
• Analyst sentiment is mixed but improving, with seven Buy, two Hold and two Sell ratings and a consensus price target of $8.89. Shares opened at $8.44 after rising 4.7%.

ADAR1 Capital Management LLC bought a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 146,090 shares of the biotechnology company's stock, valued at approximately $608,000.

A number of other large investors have also modified their holdings of the stock. Granite Investment Partners LLC acquired a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $29,000. Motley Fool Asset Management LLC acquired a new stake in Iovance Biotherapeutics in the fourth quarter valued at approximately $29,000. M&T Bank Corp purchased a new stake in shares of Iovance Biotherapeutics during the fourth quarter valued at approximately $31,000. SBI Securities Co. Ltd. raised its stake in shares of Iovance Biotherapeutics by 169.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 11,568 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 7,269 shares during the period. Finally, KBC Group NV purchased a new stake in shares of Iovance Biotherapeutics during the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 77.03% of the company's stock.

Iovance Biotherapeutics Stock Up 4.7%

Shares of Iovance Biotherapeutics stock opened at $8.44 on Wednesday. The business has a 50-day moving average price of $5.22 and a 200 day moving average price of $4.21. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $9.36. The firm has a market cap of $3.82 billion, a P/E ratio of -11.56 and a beta of 0.71.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating 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 business had revenue of $198.63 million during the quarter, compared to the consensus estimate of $87.83 million. During the same period in the previous year, the business earned ($0.33) EPS. The business's quarterly revenue was up 65.7% on a year-over-year basis. As a group, equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IOVA has been the subject of several analyst reports. TD Cowen upped their target price on shares of Iovance Biotherapeutics from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Monday. Citizens Jmp lifted their price target 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. Weiss Ratings reiterated a "sell (d-)" rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Chardan Capital decreased their price objective on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Finally, UBS Group raised their target price on Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a "neutral" rating in a research note on Thursday, August 20th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $8.89.

Iovance Biotherapeutics Company 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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