US Bancorp DE Increases Stock Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

US Bancorp DE raised its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 72.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,591 shares of the biotechnology company’s stock after purchasing an additional 2,354 shares during the quarter. US Bancorp DE’s holdings in Iovance Biotherapeutics were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Lazard Asset Management LLC grew its stake in shares of Iovance Biotherapeutics by 38.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 934 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of Iovance Biotherapeutics by 3.7% in the 1st quarter. Baird Financial Group Inc. now owns 27,545 shares of the biotechnology company’s stock valued at $459,000 after purchasing an additional 995 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Iovance Biotherapeutics by 4.3% in the 4th quarter. Arizona State Retirement System now owns 33,395 shares of the biotechnology company’s stock valued at $213,000 after purchasing an additional 1,362 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Iovance Biotherapeutics by 2.7% in the 2nd quarter. Macquarie Group Ltd. now owns 66,393 shares of the biotechnology company’s stock valued at $733,000 after purchasing an additional 1,721 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Iovance Biotherapeutics by 54.5% in the 3rd quarter. Royal Bank of Canada now owns 5,066 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,787 shares during the last quarter. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on IOVA shares. Robert W. Baird decreased their price target on Iovance Biotherapeutics from $23.00 to $20.00 in a research note on Wednesday, August 9th. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of Iovance Biotherapeutics in a research note on Wednesday, August 9th. Wells Fargo & Company upgraded Iovance Biotherapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $11.00 to $17.00 in a research note on Tuesday, May 30th. Chardan Capital reaffirmed a “buy” rating and set a $29.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, August 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $18.00 price objective on shares of Iovance Biotherapeutics in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.55.

Iovance Biotherapeutics Stock Up 1.8 %

NASDAQ IOVA opened at $6.15 on Friday. Iovance Biotherapeutics, Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $11.88. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -2.75 and a beta of 0.10. The business has a fifty day moving average of $7.09 and a 200-day moving average of $7.03.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.34. The company had revenue of $0.24 million during the quarter, compared to analyst estimates of $3.91 million. During the same period last year, the firm earned ($0.63) earnings per share. As a group, analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.87 EPS for the current year.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.