GSA Capital Partners LLP Acquires Shares of 655,318 Iovance Biotherapeutics, Inc. $IOVA

GSA Capital Partners LLP bought a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 655,318 shares of the biotechnology company’s stock, valued at approximately $2,726,000.

Several other institutional investors have also recently made changes to their positions in IOVA. Hennion & Walsh Asset Management Inc. grew its holdings in 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 valued at $3,407,000 after purchasing an additional 409,449 shares during the last quarter. Knott David M Jr bought a new stake in Iovance Biotherapeutics in the first quarter worth about $5,616,000. Dimensional Fund Advisors LP lifted its stake in Iovance Biotherapeutics by 71.9% in 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 during the last quarter. Profund Advisors LLC boosted its position in shares of Iovance Biotherapeutics by 149.7% during the fourth quarter. Profund Advisors LLC now owns 260,660 shares of the biotechnology company’s stock valued at $712,000 after buying an additional 156,253 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Iovance Biotherapeutics by 13.1% during the fourth quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock valued at $74,275,000 after buying an additional 3,148,096 shares during the period. Institutional investors own 77.03% of the company’s stock.

Analysts Set New Price Targets

IOVA has been the topic of several recent analyst reports. Barclays increased their price target on Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Robert W. Baird set a $6.00 price objective on Iovance Biotherapeutics in a research report on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. Citigroup reiterated an “outperform” rating on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. Finally, Chardan Capital cut their price target on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Hold” and a consensus price target of $8.00.

Iovance Biotherapeutics Stock Performance

Iovance Biotherapeutics stock opened at $6.98 on Friday. The company has a 50 day moving average price of $4.65 and a 200-day moving average price of $3.94. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $7.00. The company has a market capitalization of $3.16 billion, a PE ratio of -9.56 and a beta of 0.71.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (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 during the quarter, compared to analyst estimates of $87.83 million. During the same quarter in the previous year, the business earned ($0.33) earnings per share. Iovance Biotherapeutics’s quarterly revenue was up 65.7% on a year-over-year basis. On average, analysts forecast that Iovance Biotherapeutics, Inc. will post -0.5 earnings per share 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.