WINTON GROUP Ltd Sells 291,457 Shares of Iovance Biotherapeutics, Inc. $IOVA

Key Points

• WINTON GROUP Ltd cut its Iovance Biotherapeutics position by 86.3%, selling 291,457 shares in the second quarter and retaining 46,200 shares valued at approximately $192,000.
• Institutional interest remains substantial, with hedge funds and other institutional investors owning 77.03% of Iovance; BlackRock, Palo Alto Investors, and Bank of America initiated positions during the second quarter.
• Analyst sentiment is mixed, with a consensus “Hold” rating and $9.11 average price target, while Iovance reported better-than-expected quarterly results, including $99.31 million in revenue and an adjusted loss of $0.11 per share.

WINTON GROUP Ltd decreased its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 86.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 46,200 shares of the biotechnology company's stock after selling 291,457 shares during the period. WINTON GROUP Ltd's holdings in Iovance Biotherapeutics were worth $192,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. bought a new position in Iovance Biotherapeutics in the second quarter worth about $153,744,000. Invenomic Capital Management LP lifted its position in Iovance Biotherapeutics by 13.5% during the fourth quarter. Invenomic Capital Management LP now owns 11,959,505 shares of the biotechnology company's stock valued at $32,649,000 after acquiring an additional 1,417,897 shares during the last quarter. Palo Alto Investors LP purchased a new position in Iovance Biotherapeutics in the second quarter worth $22,032,229. Bank of America Corp DE purchased a new position in Iovance Biotherapeutics in the second quarter worth $20,773,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Iovance Biotherapeutics by 71.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,645,702 shares of the biotechnology company's stock worth $9,282,000 after purchasing an additional 1,106,592 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays raised their price objective on Iovance Biotherapeutics from $13.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday. Mizuho boosted their price target on Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 18th. TD Cowen upped their price objective 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. UBS Group lifted their target price on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a "neutral" rating in a research note on Thursday, August 20th. Finally, Robert W. Baird set a $6.00 target price on Iovance Biotherapeutics in a research note on Friday, August 7th. Seven 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $9.11.

Iovance Biotherapeutics Trading Up 2.3%

Iovance Biotherapeutics stock opened at $10.25 on Friday. The firm has a market cap of $4.64 billion, a PE ratio of -14.04 and a beta of 0.83. Iovance Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $10.98. The stock's 50 day simple moving average is $6.88 and its two-hundred day simple moving average is $4.94.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.02. The firm had revenue of $99.31 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 65.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.33) earnings per share. On average, equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -0.49 EPS for the current year.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. Its platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient's tumor, expanded in a manufacturing facility and returned to the patient to help recognize and attack cancer cells.

The company's lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.

Want to see what other hedge funds are holding IOVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.