Hsbc Holdings PLC Boosts Stake in Iovance Biotherapeutics, Inc. $IOVA

Hsbc Holdings PLC lifted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 651.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,541 shares of the biotechnology company’s stock after buying an additional 156,517 shares during the period. Hsbc Holdings PLC’s holdings in Iovance Biotherapeutics were worth $497,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Mirador Capital Partners LP raised its stake in Iovance Biotherapeutics by 100.9% in the 4th quarter. Mirador Capital Partners LP now owns 1,034,544 shares of the biotechnology company’s stock worth $2,824,000 after acquiring an additional 519,519 shares during the last quarter. Aberdeen Group plc lifted its position in Iovance Biotherapeutics by 25.1% during the 4th quarter. Aberdeen Group plc now owns 759,522 shares of the biotechnology company’s stock worth $2,073,000 after acquiring an additional 152,312 shares during the period. Vanguard Group Inc. grew its stake in Iovance Biotherapeutics by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock valued at $74,275,000 after purchasing an additional 3,148,096 shares during the last quarter. Profund Advisors LLC grew its stake in Iovance Biotherapeutics by 149.7% during the 4th quarter. Profund Advisors LLC now owns 260,660 shares of the biotechnology company’s stock valued at $712,000 after purchasing an additional 156,253 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at about $532,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Price Performance

IOVA opened at $4.66 on Friday. The firm has a fifty day moving average price of $4.03 and a 200 day moving average price of $3.54. Iovance Biotherapeutics, Inc. has a 1 year low of $1.76 and a 1 year high of $5.63. The stock has a market cap of $2.08 billion, a P/E ratio of -4.91 and a beta of 0.70.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) EPS for the quarter, meeting the consensus estimate of ($0.19). Iovance Biotherapeutics had a negative net margin of 123.92% and a negative return on equity of 50.17%. The company had revenue of $71.43 million for the quarter, compared to analyst estimates of $77.84 million. During the same quarter last year, the business earned ($0.36) earnings per share. The firm’s revenue was up 44.9% on a year-over-year basis. Equities analysts expect that Iovance Biotherapeutics, Inc. will post -0.62 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Truist Financial upgraded Iovance Biotherapeutics to a “hold” rating in a research note on Wednesday, March 25th. Chardan Capital cut their price target on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.43.

Iovance Biotherapeutics 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.