Deutsche Bank AG Trims Holdings in Iovance Biotherapeutics, Inc. $IOVA

Key Points

• Deutsche Bank AG reduced its holdings in Iovance Biotherapeutics by 21.0% during the first quarter, owning 685,146 shares after selling 182,430 shares.
• Several institutional investors, including Man Group plc and Principal Financial Group Inc., have recently increased or established their stakes in Iovance Biotherapeutics, contributing to 77.03% of the stock being owned by hedge funds and institutional investors.
• Iovance Biotherapeutics reported a quarterly loss of ($0.33) EPS, missing estimates, with revenues of $59.95 million, below a consensus estimate of $67.14 million.

Deutsche Bank AG trimmed its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 685,146 shares of the biotechnology company's stock after selling 182,430 shares during the quarter. Deutsche Bank AG owned about 0.21% of Iovance Biotherapeutics worth $2,282,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IOVA. Man Group plc purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $17,871,000. Marshall Wace LLP acquired a new position in Iovance Biotherapeutics during the fourth quarter worth $8,365,000. Principal Financial Group Inc. boosted its stake in Iovance Biotherapeutics by 28.7% during 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 during the last quarter. Stempoint Capital LP acquired a new position in Iovance Biotherapeutics during the fourth quarter worth $7,026,000. Finally, Hood River Capital Management LLC grew its holdings in shares of Iovance Biotherapeutics by 10.4% during the 4th quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company's stock worth $66,538,000 after purchasing an additional 846,936 shares during the period. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IOVA has been the topic of several research reports. HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Iovance Biotherapeutics in a research note on Tuesday. Chardan Capital cut their target price on Iovance Biotherapeutics from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. UBS Group lowered Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and cut their target price for the stock from $17.00 to $2.00 in a research report on Friday, May 16th. Baird R W downgraded Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Barclays decreased their price target on Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $11.90.

Iovance Biotherapeutics Stock Performance

IOVA stock opened at $2.53 on Thursday. The firm has a market cap of $915.48 million, a P/E ratio of -2.06 and a beta of 0.88. Iovance Biotherapeutics, Inc. has a 1 year low of $1.64 and a 1 year high of $12.51. The stock has a 50-day simple moving average of $2.29 and a 200-day simple moving average of $3.06.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its 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 firm had revenue of $59.95 million for the quarter, compared to the consensus estimate 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. On average, equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Iovance Biotherapeutics Company Profile

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.

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