Charles Schwab Investment Management Inc. Sells 141,599 Shares of Iovance Biotherapeutics, Inc. $IOVA

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Iovance Biotherapeutics by 7.1%, selling 141,599 shares in the first quarter, leaving it with approximately 1.84 million shares valued at $6.15 million.
• Iovance Biotherapeutics reported a quarterly earnings miss, posting ($0.33) earnings per share, which fell short of the consensus estimate of ($0.29), alongside revenues of $59.95 million.
• Several analysts have recently revised their ratings and price targets for Iovance Biotherapeutics, with updates including a price cut from $25.00 to $20.00 from Chardan Capital while the consensus rating remains at "Hold".

Charles Schwab Investment Management Inc. lowered its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,847,741 shares of the biotechnology company's stock after selling 141,599 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.55% of Iovance Biotherapeutics worth $6,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of IOVA. Man Group plc purchased a new stake in Iovance Biotherapeutics in the fourth quarter worth approximately $17,871,000. Principal Financial Group Inc. boosted its stake in Iovance Biotherapeutics by 28.7% in the first quarter. Principal Financial Group Inc. now owns 4,694,122 shares of the biotechnology company's stock worth $15,631,000 after buying an additional 1,047,335 shares in the last quarter. Stempoint Capital LP purchased a new stake in Iovance Biotherapeutics in the fourth quarter worth approximately $7,026,000. Boxer Capital Management LLC purchased a new stake in Iovance Biotherapeutics in the fourth quarter worth approximately $5,550,000. Finally, Apis Capital Advisors LLC boosted its stake in Iovance Biotherapeutics by 101.9% in the fourth quarter. Apis Capital Advisors LLC now owns 1,363,000 shares of the biotechnology company's stock worth $10,086,000 after buying an additional 688,000 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Stock Performance

IOVA stock traded down $0.04 on Tuesday, reaching $2.19. The company's stock had a trading volume of 8,737,419 shares, compared to its average volume of 14,250,555. The business has a fifty day simple moving average of $2.35 and a two-hundred day simple moving average of $2.84. Iovance Biotherapeutics, Inc. has a 12-month low of $1.64 and a 12-month high of $12.51. The firm has a market cap of $792.45 million, a PE ratio of -1.78 and a beta of 0.82.

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

Wall Street Analysts Forecast Growth

IOVA has been the subject of several research reports. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Iovance Biotherapeutics in a research note on Tuesday, August 19th. Wells Fargo & Company cut their target price on Iovance Biotherapeutics from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Barclays cut their target price on Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. Zacks Research raised Iovance Biotherapeutics to a "hold" rating in a research note on Tuesday, August 12th. Finally, UBS Group lowered Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $17.00 to $2.00 in a research note on Friday, May 16th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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.