Nuveen LLC Invests $2.95 Million in Iovance Biotherapeutics, Inc. $IOVA

Key Points

• Nuveen LLC acquired a new position in Iovance Biotherapeutics, purchasing 886,738 shares valued at approximately $2.95 million, representing 0.27% of the company's total shares.
• Iovance Biotherapeutics experienced a 7.9% decline in stock price recently, opening at $2.23 with a market cap of $806.93 million.
• Analyst reports reveal a mixed outlook, with Mizuho lowering its price target from $30.00 to $10.00, while six analysts maintain a Buy rating and the consensus rating is categorized as a "Hold."

Nuveen LLC bought a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 886,738 shares of the biotechnology company's stock, valued at approximately $2,953,000. Nuveen LLC owned about 0.27% of Iovance Biotherapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IOVA. Man Group plc acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter worth approximately $17,871,000. Principal Financial Group Inc. increased its holdings in shares of 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 valued at $15,631,000 after buying an additional 1,047,335 shares in the last quarter. Stempoint Capital LP purchased a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $7,026,000. Boxer Capital Management LLC purchased a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $5,550,000. Finally, Apis Capital Advisors LLC grew 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 valued at $10,086,000 after purchasing an additional 688,000 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Citizens Jmp cut shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a report on Friday, May 9th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of Iovance Biotherapeutics in a research report on Tuesday, August 19th. Mizuho reduced their target price on Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating for the company in a research report on Monday, May 12th. JMP Securities restated a "market perform" rating on shares of Iovance Biotherapeutics in a research note on Friday, May 9th. Finally, The Goldman Sachs Group cut 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 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.

Iovance Biotherapeutics Stock Down 0.7%

IOVA traded down $0.02 during trading on Tuesday, hitting $2.22. The company had a trading volume of 5,494,847 shares, compared to its average volume of 13,660,186. The firm's 50-day moving average price is $2.34 and its 200 day moving average price is $2.84. Iovance Biotherapeutics, Inc. has a one year low of $1.64 and a one year high of $12.51. The company has a market capitalization of $801.50 million, a PE ratio of -1.80 and a beta of 0.82.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly 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). Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%.The business had revenue of $59.95 million for the quarter, compared to the consensus estimate of $67.14 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share 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.