China Universal Asset Management Co. Ltd. Increases Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

China Universal Asset Management Co. Ltd. boosted its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 10.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 64,625 shares of the biotechnology company’s stock after purchasing an additional 6,249 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Iovance Biotherapeutics were worth $478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at $515,000. Barclays PLC boosted its holdings in Iovance Biotherapeutics by 118.8% in the third quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock valued at $5,677,000 after purchasing an additional 328,284 shares during the last quarter. Principal Financial Group Inc. grew its position in Iovance Biotherapeutics by 59.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after purchasing an additional 1,496,941 shares during the period. Intech Investment Management LLC purchased a new position in shares of Iovance Biotherapeutics during the 3rd quarter valued at about $920,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at about $12,927,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on IOVA. Piper Sandler dropped their target price on Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating on the stock in a report on Friday. UBS Group started coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

Iovance Biotherapeutics Stock Performance

NASDAQ:IOVA opened at $5.85 on Monday. The stock has a market capitalization of $1.78 billion, a PE ratio of -3.93 and a beta of 0.57. Iovance Biotherapeutics, Inc. has a fifty-two week low of $5.57 and a fifty-two week high of $18.33. The company has a fifty day moving average of $7.41 and a two-hundred day moving average of $9.01.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.03. The firm had revenue of $58.56 million during the quarter, compared to the consensus estimate of $53.54 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. During the same quarter in the prior year, the firm earned ($0.46) EPS. Research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current year.

Insider Activity

In related news, Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at approximately $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.10% of the company’s stock.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.