Rhenman & Partners Asset Management AB Purchases 497,500 Shares of Iovance Biotherapeutics, Inc. $IOVA

Rhenman & Partners Asset Management AB lifted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 45.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,595,327 shares of the biotechnology company’s stock after purchasing an additional 497,500 shares during the quarter. Rhenman & Partners Asset Management AB owned 0.40% of Iovance Biotherapeutics worth $4,355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Xponance LLC raised its stake in shares of Iovance Biotherapeutics by 19.4% during the 4th quarter. Xponance LLC now owns 24,288 shares of the biotechnology company’s stock valued at $66,000 after purchasing an additional 3,950 shares during the period. Raymond James Financial Inc. raised its stake in shares of Iovance Biotherapeutics by 1.4% during the 2nd quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company’s stock valued at $557,000 after purchasing an additional 4,618 shares during the period. R Squared Ltd raised its stake in shares of Iovance Biotherapeutics by 41.4% during the 3rd quarter. R Squared Ltd now owns 16,043 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 4,700 shares during the period. Orion Investment Co raised its stake in shares of Iovance Biotherapeutics by 0.3% during the 4th quarter. Orion Investment Co now owns 1,856,934 shares of the biotechnology company’s stock valued at $5,069,000 after purchasing an additional 5,150 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Iovance Biotherapeutics by 37.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,290 shares of the biotechnology company’s stock valued at $53,000 after purchasing an additional 5,301 shares during the period. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Stock Up 3.0%

Iovance Biotherapeutics stock opened at $4.08 on Friday. Iovance Biotherapeutics, Inc. has a 52 week low of $1.66 and a 52 week high of $5.63. The business has a 50-day simple moving average of $3.74 and a 200 day simple moving average of $3.23. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -4.29 and a beta of 0.74.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) EPS for the quarter, hitting the consensus estimate of ($0.19). Iovance Biotherapeutics had a negative return on equity of 50.17% and a negative net margin of 123.92%.The business had revenue of $71.43 million during the quarter, compared to analysts’ expectations of $77.84 million. During the same period in the previous year, the business earned ($0.36) earnings per share. The firm’s revenue was up 44.9% on a year-over-year basis. On average, research analysts anticipate that Iovance Biotherapeutics, Inc. will post -0.63 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on IOVA shares. Truist Financial upgraded Iovance Biotherapeutics to a “hold” rating in a research note on Wednesday, March 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Monday, April 6th. UBS Group boosted their target price on Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Chardan Capital reduced their target price on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Iovance Biotherapeutics has an average rating of “Hold” and an average target price of $8.43.

Iovance Biotherapeutics Company 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.