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Vanguard Group Inc. Purchases 243,438 Shares of Iovance Biotherapeutics, Inc. $IOVA

Iovance Biotherapeutics logo with Medical background

Key Points

  • Vanguard Group Inc. has increased its stake in Iovance Biotherapeutics by 0.9%, now owning approximately 27.8 million shares worth about $92.5 million.
  • Several research firms have downgraded Iovance Biotherapeutics' stock rating, with Barclays and Truist Financial both reducing their price targets and sentiment on the stock.
  • Iovance Biotherapeutics reported a quarterly loss of ($0.33) per share, missing estimates, along with a revenue of $59.95 million, below the expected $67.14 million.
  • Looking to export and analyze Iovance Biotherapeutics data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Vanguard Group Inc. increased its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,777,778 shares of the biotechnology company's stock after purchasing an additional 243,438 shares during the quarter. Vanguard Group Inc. owned approximately 8.32% of Iovance Biotherapeutics worth $92,500,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Man Group plc bought a new position in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $17,871,000. Principal Financial Group Inc. increased its position in shares of 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 valued at $15,631,000 after acquiring an additional 1,047,335 shares during the last quarter. Stempoint Capital LP bought a new stake in Iovance Biotherapeutics during the fourth quarter worth $7,026,000. Boxer Capital Management LLC bought a new stake in Iovance Biotherapeutics during the fourth quarter worth $5,550,000. Finally, Apis Capital Advisors LLC boosted its position 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 worth $10,086,000 after purchasing an additional 688,000 shares during the last quarter. 77.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IOVA. Mizuho decreased 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 reaffirmed a "market perform" rating on shares of Iovance Biotherapeutics in a research report on Friday, May 9th. Citizens Jmp cut shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a research note on Friday, May 9th. Barclays decreased their price target on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. Finally, Chardan Capital lowered their price target 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. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $11.90.

Read Our Latest Stock Report on IOVA

Iovance Biotherapeutics Stock Performance

Shares of IOVA stock traded down $0.16 during trading on Monday, reaching $2.53. 12,501,297 shares of the company's stock traded hands, compared to its average volume of 16,839,416. Iovance Biotherapeutics, Inc. has a 1 year low of $1.64 and a 1 year high of $12.51. The firm's 50-day moving average is $2.31 and its 200 day moving average is $2.95.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.04). The business had revenue of $59.95 million for the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Iovance Biotherapeutics Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Iovance Biotherapeutics (NASDAQ:IOVA)

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