Orion Investment Co Has $3.92 Million Position in Iovance Biotherapeutics, Inc. $IOVA

Key Points

• Orion Investment Co increased its stake in Iovance Biotherapeutics by 10.9% during Q1, acquiring an additional 116,098 shares, which now represents 1.6% of its investment portfolio.
• Iovance Biotherapeutics reported a loss of ($0.33) EPS for the most recent quarter, missing the analysts' expectations of ($0.29) EPS, with revenue of $59.95 million compared to an estimate of $67.14 million.
• Currently, 77.03% of Iovance's stock is owned by institutional investors, indicating strong institutional interest despite mixed analyst ratings.

Orion Investment Co raised its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 10.9% 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 1,176,853 shares of the biotechnology company's stock after purchasing an additional 116,098 shares during the period. Iovance Biotherapeutics makes up approximately 1.6% of Orion Investment Co's investment portfolio, making the stock its 19th biggest position. Orion Investment Co owned 0.35% of Iovance Biotherapeutics worth $3,919,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IOVA. Invesco Ltd. raised its position in Iovance Biotherapeutics by 2.3% during the fourth quarter. Invesco Ltd. now owns 221,928 shares of the biotechnology company's stock valued at $1,642,000 after purchasing an additional 4,967 shares in the last quarter. First Trust Advisors LP acquired a new position in Iovance Biotherapeutics during the fourth quarter valued at approximately $2,399,000. Dimensional Fund Advisors LP raised its position in Iovance Biotherapeutics by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,430,221 shares of the biotechnology company's stock valued at $17,979,000 after purchasing an additional 360,629 shares in the last quarter. MetLife Investment Management LLC raised its position in Iovance Biotherapeutics by 13.3% during the fourth quarter. MetLife Investment Management LLC now owns 165,842 shares of the biotechnology company's stock valued at $1,227,000 after purchasing an additional 19,426 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Iovance Biotherapeutics by 91.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 44,390 shares of the biotechnology company's stock valued at $328,000 after purchasing an additional 21,157 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Performance

NASDAQ IOVA remained flat at $2.23 on Monday. The company had a trading volume of 7,023,737 shares, compared to its average volume of 14,878,443. The firm has a market cap of $806.93 million, a price-to-earnings ratio of -1.81 and a beta of 0.82. Iovance Biotherapeutics, Inc. has a 1-year low of $1.64 and a 1-year high of $12.51. The business has a fifty day moving average price of $2.34 and a 200 day moving average price of $2.87.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings data 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 company 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. On average, equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group downgraded shares of Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $17.00 to $2.00 in a research report on Friday, May 16th. Truist Financial downgraded Iovance Biotherapeutics from a "buy" rating to a "hold" rating in a report on Monday, May 12th. Zacks Research raised Iovance Biotherapeutics to a "hold" rating in a report on Tuesday, August 12th. Barclays cut their price objective on Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Finally, Baird R W downgraded Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. 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 company's stock. According to data from MarketBeat, Iovance Biotherapeutics currently has an average rating of "Hold" and an average target price of $11.90.

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.