China Universal Asset Management Co. Ltd. Has $548,000 Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

China Universal Asset Management Co. Ltd. raised its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 77.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,376 shares of the biotechnology company’s stock after purchasing an additional 25,500 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Iovance Biotherapeutics were worth $548,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in Iovance Biotherapeutics by 33.9% in the 1st quarter. Sei Investments Co. now owns 333,148 shares of the biotechnology company’s stock valued at $4,937,000 after purchasing an additional 84,382 shares during the period. Vanguard Group Inc. boosted its holdings in Iovance Biotherapeutics by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 22,812,820 shares of the biotechnology company’s stock valued at $185,468,000 after purchasing an additional 669,350 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Iovance Biotherapeutics in the 1st quarter valued at about $246,000. Marshall Wace LLP bought a new stake in Iovance Biotherapeutics in the 2nd quarter valued at about $12,929,000. Finally, GSA Capital Partners LLP bought a new stake in Iovance Biotherapeutics in the 1st quarter valued at about $907,000. Institutional investors own 77.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IOVA shares. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Monday, August 12th. UBS Group started coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 price target on the stock. Finally, Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $10.81 on Wednesday. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.53 and a fifty-two week high of $18.33. The firm has a market capitalization of $3.02 billion, a P/E ratio of -6.01 and a beta of 0.62. The company’s 50 day moving average price is $10.24 and its two-hundred day moving average price is $9.82.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. The firm had revenue of $31.11 million for the quarter, compared to analyst estimates of $24.59 million. During the same quarter last year, the business posted ($0.47) earnings per share. The company’s quarterly revenue was up 12969.7% on a year-over-year basis. On average, analysts expect that Iovance Biotherapeutics, Inc. will post -1.26 earnings per share for the current year.

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.