Haven Capital Group Inc. Buys New Stake in Iovance Biotherapeutics, Inc. $IOVA

Haven Capital Group Inc. acquired a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the third quarter, HoldingsChannel.com reports. The firm acquired 59,143 shares of the biotechnology company’s stock, valued at approximately $876,000. Iovance Biotherapeutics comprises 0.7% of Haven Capital Group Inc.’s portfolio, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mirador Capital Partners LP increased its position in Iovance Biotherapeutics by 1.4% in the third quarter. Mirador Capital Partners LP now owns 1,095,740 shares of the biotechnology company’s stock worth $16,239,000 after purchasing an additional 15,452 shares during the period. GK Wealth Management LLC acquired a new stake in Iovance Biotherapeutics in the third quarter worth $107,000. GAMMA Investing LLC raised its stake in Iovance Biotherapeutics by 65.8% during the 3rd quarter. GAMMA Investing LLC now owns 8,987 shares of the biotechnology company’s stock worth $133,000 after buying an additional 3,565 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Iovance Biotherapeutics by 5.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 32,957 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 1,691 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Iovance Biotherapeutics by 52.1% in the second quarter. Tidal Investments LLC now owns 280,048 shares of the biotechnology company’s stock valued at $1,165,000 after buying an additional 95,933 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IOVA shares. Mizuho boosted their target price on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. UBS Group increased 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, August 20th. HC Wainwright upped their price target on shares of Iovance Biotherapeutics from $9.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, September 29th. Barclays boosted their price target on shares of Iovance Biotherapeutics from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, September 17th. Finally, Wells Fargo & Company raised their price objective on Iovance Biotherapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, September 30th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.90.

Iovance Biotherapeutics Stock Performance

IOVA opened at $14.56 on Tuesday. The company’s 50-day simple moving average is $9.45 and its two-hundred day simple moving average is $5.91. Iovance Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $15.30. The stock has a market capitalization of $6.60 billion, a P/E ratio of -19.94 and a beta of 0.76.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $99.31 million during the quarter, compared to the consensus estimate of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. Iovance Biotherapeutics’s quarterly revenue was up 65.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.33) EPS. Research analysts forecast that Iovance Biotherapeutics, Inc. will post -0.45 EPS for the current fiscal year.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. The company’s platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded in a manufacturing facility and reinfused to help the immune system recognize and attack cancer cells.

Iovance’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment with a PD-1-blocking antibody and, when applicable, a BRAF-targeted therapy.