Mitsubishi UFJ Asset Management Co. Ltd. Invests $269,000 in Iovance Biotherapeutics, Inc. $IOVA

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 64,724 shares of the biotechnology company’s stock, valued at approximately $269,000.

Several other institutional investors have also added to or reduced their stakes in IOVA. Granite Investment Partners LLC bought a new position in Iovance Biotherapeutics during the 4th quarter worth $29,000. Motley Fool Asset Management LLC acquired a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth $29,000. M&T Bank Corp bought a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at about $31,000. SBI Securities Co. Ltd. boosted its position in shares of Iovance Biotherapeutics by 169.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 11,568 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 7,269 shares during the period. Finally, KBC Group NV acquired a new position in shares of Iovance Biotherapeutics in the first quarter valued at about $34,000. 77.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IOVA. Robert W. Baird set a $6.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. Mizuho boosted their price objective on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. UBS Group increased their target price on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Finally, Citizens Jmp lifted their price target on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.75.

Iovance Biotherapeutics Stock Performance

IOVA opened at $8.29 on Friday. The firm has a market cap of $3.76 billion, a P/E ratio of -11.36 and a beta of 0.71. Iovance Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $9.36. The business’s fifty day moving average is $5.05 and its 200-day moving average is $4.12.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $198.63 million during the quarter, compared to the consensus estimate of $87.83 million. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.Iovance Biotherapeutics’s revenue for the quarter was up 65.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. On average, research analysts predict that Iovance Biotherapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

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.