Capital Fund Management S.A. Raises Position in Iovance Biotherapeutics, Inc. $IOVA

Key Points

• Capital Fund Management S.A. has significantly increased its stake in Iovance Biotherapeutics, acquiring 409,688 shares, raising its total ownership to about 0.18% of the company, valued at approximately $1.998 million.
• Several research firms have downgraded their ratings on Iovance Biotherapeutics recently, with Goldman Sachs changing its rating from "neutral" to "sell" and UBS lowering its target price from $17.00 to $2.00.
• Iovance Biotherapeutics reported a quarterly loss of ($0.33) EPS, which was below analysts' expectations, alongside revenue that also missed forecasts at $59.95 million.

Capital Fund Management S.A. increased its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 215.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 599,871 shares of the biotechnology company's stock after buying an additional 409,688 shares during the period. Capital Fund Management S.A. owned 0.18% of Iovance Biotherapeutics worth $1,998,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Northern Trust Corp raised its stake in Iovance Biotherapeutics by 7.4% in the fourth quarter. Northern Trust Corp now owns 2,414,807 shares of the biotechnology company's stock worth $17,870,000 after buying an additional 166,231 shares in the last quarter. California State Teachers Retirement System raised its stake in Iovance Biotherapeutics by 7.3% in the fourth quarter. California State Teachers Retirement System now owns 203,241 shares of the biotechnology company's stock worth $1,504,000 after buying an additional 13,774 shares in the last quarter. CM Management LLC raised its stake in Iovance Biotherapeutics by 66.7% in the first quarter. CM Management LLC now owns 500,000 shares of the biotechnology company's stock worth $1,665,000 after buying an additional 200,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Iovance Biotherapeutics by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 918,210 shares of the biotechnology company's stock worth $3,058,000 after buying an additional 52,376 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Iovance Biotherapeutics by 78.5% during the fourth quarter. Hsbc Holdings PLC now owns 31,945 shares of the biotechnology company's stock valued at $232,000 after purchasing an additional 14,045 shares in the last quarter. 77.03% of the stock is owned by institutional investors.

Iovance Biotherapeutics Stock Performance

Shares of IOVA traded down $0.01 on Friday, hitting $2.23. 5,347,633 shares of the stock traded hands, compared to its average volume of 13,700,457. The company has a market capitalization of $805.12 million, a PE ratio of -1.80 and a beta of 0.88. The business has a 50 day simple moving average of $2.33 and a 200 day simple moving average of $2.92. Iovance Biotherapeutics, Inc. has a one year low of $1.64 and a one year high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.04). Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%.The company had revenue of $59.95 million during the quarter, compared to analysts' expectations of $67.14 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. On average, equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Analyst Ratings Changes

IOVA has been the subject of a number of analyst reports. Citizens Jmp downgraded shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a research note on Friday, May 9th. Wells Fargo & Company decreased their target price on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Iovance Biotherapeutics in a research note on Tuesday, August 19th. Mizuho decreased their target price on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating for the company in a research note on Monday, May 12th. Finally, Barclays decreased their target price on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $11.90.

About Iovance Biotherapeutics

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.