China Universal Asset Management Co. Ltd. Acquires 25,500 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

China Universal Asset Management Co. Ltd. grew its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 77.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 58,376 shares of the biotechnology company’s stock after acquiring an additional 25,500 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Iovance Biotherapeutics were worth $548,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Perceptive Advisors LLC raised its stake in Iovance Biotherapeutics by 34.6% during the second quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock worth $207,984,000 after buying an additional 6,660,151 shares during the last quarter. Vanguard Group Inc. raised its stake in Iovance Biotherapeutics by 9.2% during the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock worth $369,245,000 after buying an additional 2,102,480 shares during the last quarter. Avoro Capital Advisors LLC raised its stake in Iovance Biotherapeutics by 74.6% during the first quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock worth $173,394,000 after buying an additional 5,000,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Iovance Biotherapeutics by 60.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock worth $78,071,000 after buying an additional 1,991,262 shares during the last quarter. Finally, Long Focus Capital Management LLC raised its stake in Iovance Biotherapeutics by 195.1% during the second quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock worth $33,139,000 after buying an additional 2,731,688 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IOVA shares. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. Finally, UBS Group assumed coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA opened at $10.81 on Wednesday. The stock has a market capitalization of $3.02 billion, a P/E ratio of -6.01 and a beta of 0.62. The company has a 50-day moving average price of $10.24 and a 200-day moving average price of $9.82. Iovance Biotherapeutics, Inc. has a 1 year low of $3.53 and a 1 year high of $18.33.

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

Iovance Biotherapeutics 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.