Iovance Biotherapeutics, Inc. $IOVA Shares Sold by Deutsche Bank AG

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 cut its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 21.0% in the first quarter, according to the company in its most recent disclosure with the SEC. 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC raised its stake in Iovance Biotherapeutics by 97.6% in the first quarter. Chicago Partners Investment Group LLC now owns 40,626 shares of the biotechnology company's stock valued at $127,000 after buying an additional 20,067 shares during the last quarter. CM Management LLC raised its stake in shares of 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 purchasing an additional 200,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Iovance Biotherapeutics by 0.9% in the first quarter. Vanguard Group Inc. now owns 27,777,778 shares of the biotechnology company's stock worth $92,500,000 after purchasing an additional 243,438 shares during the last quarter. Raiffeisen Bank International AG raised its stake in shares of Iovance Biotherapeutics by 44.1% in the first quarter. Raiffeisen Bank International AG now owns 147,000 shares of the biotechnology company's stock worth $523,000 after purchasing an additional 45,000 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Iovance Biotherapeutics by 266.4% in the first quarter. US Bancorp DE now owns 45,795 shares of the biotechnology company's stock worth $152,000 after purchasing an additional 33,298 shares during the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Performance

Iovance Biotherapeutics stock traded down $0.08 during midday trading on Tuesday, hitting $2.45. 8,201,557 shares of the company were exchanged, compared to its average volume of 16,354,478. The firm has a market capitalization of $886.53 million, a PE ratio of -1.99 and a beta of 0.88. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $12.51. The business has a fifty day simple moving average of $2.32 and a two-hundred day simple moving average of $2.95.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.04). The company had revenue of $59.95 million for the quarter, compared to analyst estimates 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, equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IOVA has been the subject of several research analyst reports. Barclays reduced their price objective 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 upgraded Iovance Biotherapeutics to a "hold" rating in a research note on Tuesday, August 12th. JMP Securities restated a "market perform" rating on shares of Iovance Biotherapeutics in a research note on Friday, May 9th. The Goldman Sachs Group cut Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a research note on Tuesday, July 15th. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Iovance Biotherapeutics in a research note on Tuesday, August 19th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus 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.