Hennion & Walsh Asset Management Inc. Acquires 409,449 Shares of Iovance Biotherapeutics, Inc. $IOVA

Hennion & Walsh Asset Management Inc. increased its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 100.0% during the second quarter, Holdings Channel.com reports. The firm owned 818,913 shares of the biotechnology company’s stock after buying an additional 409,449 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Iovance Biotherapeutics were worth $3,407,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IOVA. State Street Corp raised its stake in Iovance Biotherapeutics by 51.5% in the fourth quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company’s stock worth $55,041,000 after buying an additional 6,851,486 shares in the last quarter. Palo Alto Investors LP boosted its position in Iovance Biotherapeutics by 122.1% during the 3rd quarter. Palo Alto Investors LP now owns 7,618,132 shares of the biotechnology company’s stock valued at $16,531,000 after acquiring an additional 4,188,803 shares in the last quarter. HRT Financial LP boosted its position in Iovance Biotherapeutics by 1,078.3% during the 4th quarter. HRT Financial LP now owns 4,356,010 shares of the biotechnology company’s stock valued at $11,891,000 after acquiring an additional 3,986,314 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Iovance Biotherapeutics by 202.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock valued at $19,239,000 after acquiring an additional 3,869,617 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Iovance Biotherapeutics by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock valued at $74,275,000 after acquiring an additional 3,148,096 shares during the period. 77.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IOVA has been the subject of a number of analyst reports. Chardan Capital decreased their price objective on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Robert W. Baird set a $6.00 target price on Iovance Biotherapeutics in a research note on Friday. Barclays boosted their target price on shares of Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Thursday, July 2nd. Finally, Citizens Jmp raised their price target on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a report on Friday. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Iovance Biotherapeutics currently has a consensus rating of “Hold” and an average price target of $8.00.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA opened at $6.40 on Tuesday. The company has a market cap of $2.90 billion, a PE ratio of -8.77 and a beta of 0.71. The business has a 50-day simple moving average of $4.45 and a two-hundred day simple moving average of $3.84. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $6.92.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.92%. 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 prior year, the company posted ($0.33) earnings per share. The company’s revenue for the quarter was up 65.7% compared to the same quarter last year. On average, sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -0.56 earnings per share for the current fiscal 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.