Rhenman & Partners Asset Management AB Has $2.38 Million Stock Position in Iovance Biotherapeutics, Inc. $IOVA

Key Points

• Rhenman & Partners Asset Management AB raised its Iovance stake by 69.5% in Q3 to 1,097,827 shares, worth about $2.38 million (≈0.28% of the company), reflecting notable institutional buying.
• Analyst sentiment is mixed with a MarketBeat consensus rating of Hold and an average target of $8.88, while individual firm views range from Goldman Sachs' $2 sell to Chardan's $16 buy and Barclays' $11 overweight.
• Iovance slightly beat the quarter's estimates—EPS of -$0.18 vs. -$0.22 expected and revenue $86.77M vs. $81.61M—but remains unprofitable with negative net margin and return on equity.

Rhenman & Partners Asset Management AB raised its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 69.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,097,827 shares of the biotechnology company's stock after buying an additional 450,000 shares during the quarter. Rhenman & Partners Asset Management AB owned about 0.28% of Iovance Biotherapeutics worth $2,382,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IOVA. Vontobel Holding Ltd. bought a new stake in shares of Iovance Biotherapeutics during the third quarter worth $26,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Iovance Biotherapeutics in the 3rd quarter valued at $27,000. WealthTrust Axiom LLC boosted its stake in Iovance Biotherapeutics by 80.0% in the 2nd quarter. WealthTrust Axiom LLC now owns 18,000 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 8,000 shares during the period. Federated Hermes Inc. increased its holdings in Iovance Biotherapeutics by 67.6% during the 3rd quarter. Federated Hermes Inc. now owns 15,111 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 6,095 shares in the last quarter. Finally, Diversify Wealth Management LLC bought a new position in Iovance Biotherapeutics during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 77.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IOVA. The Goldman Sachs Group restated a "sell" rating and issued a $2.00 price target on shares of Iovance Biotherapeutics in a report on Thursday, February 5th. Chardan Capital decreased their price objective on Iovance Biotherapeutics from $17.00 to $16.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Barclays boosted their target price on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. UBS Group raised their price target on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Iovance Biotherapeutics from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $8.88.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $5.13 on Friday. The firm has a market capitalization of $2.11 billion, a PE ratio of -4.58 and a beta of 0.69. The company's 50-day moving average is $2.87 and its 200-day moving average is $2.50. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $5.35.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.04. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. The company had revenue of $86.77 million for the quarter, compared to analysts' expectations of $81.61 million. As a group, analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 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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