Portland Investment Counsel Inc. Invests $541,000 in Iovance Biotherapeutics, Inc. $IOVA

Portland Investment Counsel Inc. purchased a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 2nd quarter, Holdings Channel reports. The fund purchased 130,000 shares of the biotechnology company’s stock, valued at approximately $541,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC purchased a new position in shares of Iovance Biotherapeutics during the second quarter worth approximately $6,406,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of Iovance Biotherapeutics by 100.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 818,913 shares of the biotechnology company’s stock valued at $3,407,000 after acquiring an additional 409,449 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Iovance Biotherapeutics in the second quarter valued at approximately $2,726,000. Dimensional Fund Advisors LP boosted its holdings in shares of 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 valued at $9,282,000 after purchasing an additional 1,106,592 shares during the period. Finally, Knott David M Jr bought a new position in Iovance Biotherapeutics in the first quarter worth approximately $5,616,000. Institutional investors own 77.03% of the company’s stock.

Analyst Upgrades and Downgrades

IOVA has been the topic of several research reports. Robert W. Baird set a $6.00 price objective on Iovance Biotherapeutics in a report on Friday, August 7th. Chardan Capital dropped their price target on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Mizuho increased their price target on Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 18th. UBS Group raised their price target on Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Barclays lifted their price objective on Iovance Biotherapeutics from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.75.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock opened at $8.29 on Monday. The company has a market cap of $3.76 billion, a P/E ratio of -11.36 and a beta of 0.71. The stock’s 50-day moving average is $5.05 and its 200 day moving average is $4.13. Iovance Biotherapeutics, Inc. has a 1-year low of $1.76 and a 1-year high of $9.36.

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 net margin of 89.11% and a negative return on equity of 40.51%. The company had revenue of $198.63 million during the quarter, compared to the consensus estimate of $87.83 million. During the same period last year, the firm earned ($0.33) earnings per share. Iovance Biotherapeutics’s revenue was up 65.7% compared to the same quarter last year. On average, analysts anticipate that Iovance Biotherapeutics, Inc. will post -0.48 EPS for the current 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.