Legal & General Group Plc Buys Shares of 259,485 Iovance Biotherapeutics, Inc. $IOVA

Legal & General Group Plc purchased a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 259,485 shares of the biotechnology company's stock, valued at approximately $1,079,000. Legal & General Group Plc owned about 0.06% of Iovance Biotherapeutics at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in Iovance Biotherapeutics by 161.2% in the 1st quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company's stock worth $1,740,000 after purchasing an additional 322,680 shares during the last quarter. AQR Capital Management LLC grew its holdings in Iovance Biotherapeutics by 279.0% during the first quarter. AQR Capital Management LLC now owns 59,540 shares of the biotechnology company's stock valued at $195,000 after purchasing an additional 43,829 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Iovance Biotherapeutics by 30.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company's stock valued at $18,554,000 after purchasing an additional 1,301,846 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Iovance Biotherapeutics by 202.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company's stock valued at $19,239,000 after purchasing an additional 3,869,617 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Iovance Biotherapeutics by 112.1% in the second quarter. Envestnet Asset Management Inc. now owns 47,466 shares of the biotechnology company's stock valued at $82,000 after purchasing an additional 25,083 shares during the period. Institutional investors own 77.03% of the company's stock.

Wall Street Analysts Forecast Growth

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

Iovance Biotherapeutics Stock Performance

NASDAQ:IOVA opened at $8.79 on Tuesday. The firm's 50-day moving average is $5.99 and its 200-day moving average is $4.58. Iovance Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $9.36. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -12.04 and a beta of 0.83.

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

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