Jacobs Levy Equity Management Inc. Invests $4.19 Million in Iovance Biotherapeutics, Inc. $IOVA

Key Points

• Jacobs Levy Equity Management Inc. acquired a new stake in Iovance Biotherapeutics by purchasing 1,258,561 shares, valued at approximately $4.2 million, representing 0.38% of the company.
• Several large institutional investors increased their holdings in Iovance Biotherapeutics in the previous quarter, with institutional ownership now at 77.03%.
• Iovance Biotherapeutics reported a loss of $0.33 EPS for the last quarter, falling short of analysts' expectations of ($0.29), and set a fiscal 2025 EPS guidance with an anticipated average of -1.24.

Jacobs Levy Equity Management Inc. purchased a new stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,258,561 shares of the biotechnology company's stock, valued at approximately $4,191,000. Jacobs Levy Equity Management Inc. owned 0.38% of Iovance Biotherapeutics as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Baird Financial Group Inc. raised its holdings in Iovance Biotherapeutics by 1.0% in the 4th quarter. Baird Financial Group Inc. now owns 195,845 shares of the biotechnology company's stock valued at $1,449,000 after acquiring an additional 2,000 shares during the period. Algert Global LLC raised its holdings in Iovance Biotherapeutics by 4.3% in the 4th quarter. Algert Global LLC now owns 56,400 shares of the biotechnology company's stock valued at $417,000 after acquiring an additional 2,330 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of Iovance Biotherapeutics by 39.0% during the first quarter. Avantax Advisory Services Inc. now owns 18,560 shares of the biotechnology company's stock worth $62,000 after purchasing an additional 5,205 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Iovance Biotherapeutics by 12.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,877 shares of the biotechnology company's stock worth $153,000 after purchasing an additional 5,237 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of Iovance Biotherapeutics by 39.4% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,442 shares of the biotechnology company's stock worth $144,000 after purchasing an additional 5,500 shares during the period. 77.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IOVA. Wells Fargo & Company lowered their target price on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Chardan Capital lowered their target price on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Zacks Research raised shares of Iovance Biotherapeutics to a "hold" rating in a report on Tuesday, August 12th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Iovance Biotherapeutics in a report on Tuesday, August 19th. Finally, The Goldman Sachs Group cut shares of Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a report on Tuesday, July 15th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.90.

Iovance Biotherapeutics Stock Down 6.2%

Shares of IOVA stock traded down $0.15 during trading hours on Friday, reaching $2.27. The company's stock had a trading volume of 8,510,418 shares, compared to its average volume of 10,659,458. The firm's 50 day simple moving average is $2.44 and its 200-day simple moving average is $2.64. The company has a market capitalization of $821.40 million, a price-to-earnings ratio of -1.85 and a beta of 0.82. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.64 and a fifty-two week 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 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 analyst estimates of $67.14 million. Iovance Biotherapeutics had a negative net margin of 161.44% and a negative return on equity of 52.87%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

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.