Portland Investment Counsel Inc. Acquires Shares of 130,000 Iovance Biotherapeutics, Inc. $IOVA

Key Points

• Portland Investment Counsel acquired 130,000 Iovance Biotherapeutics shares during the second quarter, valued at approximately $541,000. Institutional investors collectively own 77.03% of the company.
• Analyst sentiment is mixed: six analysts rate Iovance a Buy, two rate it Hold and two rate it Sell. The consensus rating is Hold, with an average price target of $8.75.
• Iovance reported quarterly revenue of $198.63 million, up 65.7% year over year and well above estimates, while its adjusted loss of $0.11 per share beat expectations. Shares opened at $8.29, compared with a 52-week range of $1.76 to $9.36.

Portland Investment Counsel Inc. acquired a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 130,000 shares of the biotechnology company's stock, valued at approximately $541,000.

A number of other large investors have also recently made changes to their positions in the business. KBC Group NV purchased a new stake in shares of Iovance Biotherapeutics during the 1st quarter valued at about $34,000. Granite Investment Partners LLC purchased a new position in Iovance Biotherapeutics in the fourth quarter worth about $29,000. Motley Fool Asset Management LLC bought a new stake in Iovance Biotherapeutics during the fourth quarter worth approximately $29,000. Sanctuary Advisors LLC bought a new stake in Iovance Biotherapeutics during the first quarter worth approximately $38,000. Finally, Fifth Third Bancorp purchased a new stake in Iovance Biotherapeutics during the first quarter valued at approximately $39,000. 77.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Chardan Capital dropped their target price on Iovance Biotherapeutics from $16.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Citigroup restated an "outperform" rating on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. Robert W. Baird set a $6.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Citizens Jmp boosted their price objective on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a "market outperform" rating in a research report on Friday, August 7th. Finally, UBS Group boosted their price objective on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a "neutral" rating in a research report on Thursday. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Iovance Biotherapeutics currently has an average rating of "Hold" and a consensus price target of $8.75.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA opened at $8.29 on Monday. Iovance Biotherapeutics, Inc. has a 1 year low of $1.76 and a 1 year high of $9.36. The firm has a 50-day simple moving average of $5.05 and a two-hundred day simple moving average of $4.13. The company has a market cap of $3.76 billion, a P/E ratio of -11.36 and a beta of 0.71.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) EPS 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 firm had revenue of $198.63 million for the quarter, compared to analysts' expectations of $87.83 million. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. The company's quarterly revenue was up 65.7% on a year-over-year basis. As a group, equities research analysts expect that Iovance Biotherapeutics, Inc. will post -0.48 EPS for the current 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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