Prudential Financial Inc. Takes $212,000 Position in Iovance Biotherapeutics Inc (NASDAQ:IOVA)

Prudential Financial Inc. purchased a new stake in shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,640 shares of the biotechnology company’s stock, valued at approximately $212,000.

Other hedge funds have also added to or reduced their stakes in the company. Shaker Investments LLC OH acquired a new stake in shares of Iovance Biotherapeutics during the second quarter worth $560,000. JPMorgan Chase & Co. increased its position in shares of Iovance Biotherapeutics by 4.4% during the second quarter. JPMorgan Chase & Co. now owns 464,176 shares of the biotechnology company’s stock worth $10,486,000 after buying an additional 19,532 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Iovance Biotherapeutics by 18.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 38,312 shares of the biotechnology company’s stock worth $939,000 after buying an additional 6,050 shares during the period. Swiss National Bank increased its position in shares of Iovance Biotherapeutics by 2.3% during the second quarter. Swiss National Bank now owns 195,200 shares of the biotechnology company’s stock worth $4,786,000 after buying an additional 4,400 shares during the period. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Iovance Biotherapeutics during the second quarter worth $1,172,000. 98.80% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:IOVA traded down $1.42 during trading hours on Wednesday, reaching $18.89. The company had a trading volume of 138,573 shares, compared to its average volume of 1,303,001. The company has a quick ratio of 12.14, a current ratio of 12.15 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -14.87 and a beta of 1.92. The business’s 50-day simple moving average is $20.85 and its two-hundred day simple moving average is $17.58. Iovance Biotherapeutics Inc has a twelve month low of $7.26 and a twelve month high of $26.59.



Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). As a group, equities analysts predict that Iovance Biotherapeutics Inc will post -1.5 earnings per share for the current year.

Several equities research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Iovance Biotherapeutics from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, June 3rd. Jefferies Financial Group set a $33.00 price objective on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research report on Monday, August 26th. BidaskClub cut shares of Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Friday, August 16th. Oppenheimer set a $32.00 price objective on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Piper Jaffray Companies increased their price objective on shares of Iovance Biotherapeutics from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $28.82.

About Iovance Biotherapeutics

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 lifileucel, 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.

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

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