Iovance Biotherapeutics Inc (NASDAQ:IOVA) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. raised its stake in Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,356,302 shares of the biotechnology company’s stock after purchasing an additional 92,206 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 1.10% of Iovance Biotherapeutics worth $24,685,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IOVA. Vanguard Group Inc. boosted its holdings in shares of Iovance Biotherapeutics by 46.3% in the 2nd quarter. Vanguard Group Inc. now owns 8,491,841 shares of the biotechnology company’s stock valued at $208,220,000 after purchasing an additional 2,688,963 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Iovance Biotherapeutics by 72.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,023,903 shares of the biotechnology company’s stock valued at $147,706,000 after purchasing an additional 2,531,169 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Iovance Biotherapeutics by 48.2% in the 2nd quarter. Bank of America Corp DE now owns 3,084,339 shares of the biotechnology company’s stock valued at $75,627,000 after purchasing an additional 1,002,500 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in shares of Iovance Biotherapeutics by 173.0% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 1,264,096 shares of the biotechnology company’s stock valued at $30,996,000 after purchasing an additional 801,026 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Iovance Biotherapeutics by 1,946.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 715,908 shares of the biotechnology company’s stock valued at $17,554,000 after purchasing an additional 680,922 shares during the last quarter. Institutional investors own 98.85% of the company’s stock.

NASDAQ:IOVA opened at $23.62 on Friday. The company has a current ratio of 10.61, a quick ratio of 12.14 and a debt-to-equity ratio of 0.02. Iovance Biotherapeutics Inc has a twelve month low of $7.26 and a twelve month high of $26.59. The firm’s fifty day simple moving average is $19.79 and its 200 day simple moving average is $19.64. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -18.60 and a beta of 1.96.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Monday, November 4th. The biotechnology company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.01). On average, analysts predict that Iovance Biotherapeutics Inc will post -1.49 earnings per share for the current year.

Several equities analysts recently weighed in on the stock. Jefferies Financial Group set a $33.00 target price on shares of Iovance Biotherapeutics and gave the company a “buy” rating in a report on Monday, August 26th. Zacks Investment Research upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. ValuEngine upgraded shares of Iovance Biotherapeutics from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus assumed coverage on shares of Iovance Biotherapeutics in a report on Monday, September 30th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Chardan Capital restated a “buy” rating and set a $33.00 target price on shares of Iovance Biotherapeutics in a report on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. Iovance Biotherapeutics has a consensus rating of “Buy” and a consensus price target of $29.27.

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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