Northern Trust Corp Has $13.04 Million Stake in Iovance Biotherapeutics Inc (IOVA)

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Northern Trust Corp lifted its holdings in shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 16.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,018,949 shares of the biotechnology company’s stock after buying an additional 146,964 shares during the period. Northern Trust Corp’s holdings in Iovance Biotherapeutics were worth $13,043,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of Iovance Biotherapeutics by 8.9% during the 2nd quarter. BlackRock Inc. now owns 6,296,691 shares of the biotechnology company’s stock worth $80,598,000 after buying an additional 512,844 shares in the last quarter. Victory Capital Management Inc. increased its stake in Iovance Biotherapeutics by 2.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,344,279 shares of the biotechnology company’s stock valued at $30,007,000 after purchasing an additional 58,780 shares in the last quarter. RA Capital Management LLC increased its stake in Iovance Biotherapeutics by 70.1% in the 2nd quarter. RA Capital Management LLC now owns 1,121,153 shares of the biotechnology company’s stock valued at $14,351,000 after purchasing an additional 462,094 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in Iovance Biotherapeutics in the 2nd quarter valued at approximately $10,560,000. Finally, Millennium Management LLC increased its stake in Iovance Biotherapeutics by 39.7% in the 2nd quarter. Millennium Management LLC now owns 712,922 shares of the biotechnology company’s stock valued at $9,125,000 after purchasing an additional 202,558 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

NASDAQ IOVA opened at $8.80 on Wednesday. Iovance Biotherapeutics Inc has a 1-year low of $7.13 and a 1-year high of $19.90. The company has a market capitalization of $938.72 million, a P/E ratio of -6.24 and a beta of 3.03.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.03). As a group, equities analysts predict that Iovance Biotherapeutics Inc will post -1.27 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on the company. Cowen reaffirmed a “buy” rating on shares of Iovance Biotherapeutics in a research note on Tuesday. BidaskClub downgraded Iovance Biotherapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. ValuEngine downgraded Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. HC Wainwright set a $22.00 price objective on Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Tuesday, August 7th. Finally, Zacks Investment Research raised Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Wednesday, October 17th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $23.75.

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Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.

Further Reading: Cost of Capital

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Institutional Ownership by Quarter for Iovance Biotherapeutics (NASDAQ:IOVA)

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