Rice Hall James & Associates LLC Invests $6.41 Million in Iovance Biotherapeutics, Inc. $IOVA

Rice Hall James & Associates LLC purchased a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,539,840 shares of the biotechnology company’s stock, valued at approximately $6,406,000.

A number of other institutional investors have also modified their holdings of IOVA. Hennion & Walsh Asset Management Inc. raised its position in shares of Iovance Biotherapeutics by 100.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 818,913 shares of the biotechnology company’s stock worth $3,407,000 after purchasing an additional 409,449 shares during the period. GSA Capital Partners LLP acquired a new position in Iovance Biotherapeutics during the 2nd quarter valued at approximately $2,726,000. Knott David M Jr acquired a new position in Iovance Biotherapeutics during the 1st quarter valued at approximately $5,616,000. Dimensional Fund Advisors LP grew its stake in Iovance Biotherapeutics by 71.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,645,702 shares of the biotechnology company’s stock worth $9,282,000 after buying an additional 1,106,592 shares during the last quarter. Finally, Profund Advisors LLC grew its stake in Iovance Biotherapeutics by 149.7% during the 4th quarter. Profund Advisors LLC now owns 260,660 shares of the biotechnology company’s stock worth $712,000 after buying an additional 156,253 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock opened at $7.10 on Tuesday. Iovance Biotherapeutics, Inc. has a 12-month low of $1.76 and a 12-month high of $7.25. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -9.73 and a beta of 0.71. The business has a 50 day simple moving average of $4.71 and a 200 day simple moving average of $3.98.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced 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 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 the consensus estimate of $87.83 million. During the same quarter in the previous year, the business earned ($0.33) EPS. The firm’s revenue for the quarter was up 65.7% on a year-over-year basis. On average, equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IOVA. Robert W. Baird set a $6.00 target price on Iovance Biotherapeutics in a research note on Friday, August 7th. Barclays upped their price target on shares of Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Citigroup reaffirmed an “outperform” rating on shares of Iovance Biotherapeutics in a report on Friday, August 7th. Chardan Capital cut their price objective on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Citizens Jmp boosted their target price on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.00.

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.