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

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.

Vanguard Group Inc. grew its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,777,778 shares of the biotechnology company's stock after buying an additional 243,438 shares during the quarter. Vanguard Group Inc. owned 8.32% of Iovance Biotherapeutics worth $92,500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Baird Financial Group Inc. boosted its holdings in shares of Iovance Biotherapeutics by 1.0% in the fourth quarter. Baird Financial Group Inc. now owns 195,845 shares of the biotechnology company's stock valued at $1,449,000 after buying an additional 2,000 shares during the period. Algert Global LLC lifted its position in shares of Iovance Biotherapeutics by 4.3% in the fourth quarter. Algert Global LLC now owns 56,400 shares of the biotechnology company's stock worth $417,000 after purchasing an additional 2,330 shares in the last quarter. Virtus ETF Advisers LLC lifted its position in shares of Iovance Biotherapeutics by 12.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 43,927 shares of the biotechnology company's stock worth $325,000 after purchasing an additional 4,858 shares in the last quarter. Invesco Ltd. lifted its position in shares of Iovance Biotherapeutics by 2.3% in the fourth quarter. Invesco Ltd. now owns 221,928 shares of the biotechnology company's stock worth $1,642,000 after purchasing an additional 4,967 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in shares of Iovance Biotherapeutics by 39.0% in 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 in the last quarter. Institutional investors and hedge funds own 77.03% of the company's stock.

Analysts Set New Price Targets

IOVA has been the topic of a number of research reports. Zacks Research raised shares of Iovance Biotherapeutics to a "hold" rating in a research report on Tuesday, August 12th. Citizens Jmp lowered shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a research report on Friday, May 9th. JMP Securities reissued a "market perform" rating on shares of Iovance Biotherapeutics in a research report on Friday, May 9th. Barclays cut their price objective on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Finally, Chardan Capital cut their price objective on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Six 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $11.90.

Iovance Biotherapeutics Price Performance

NASDAQ IOVA traded down $0.19 on Thursday, hitting $2.23. 10,992,647 shares of the stock were exchanged, compared to its average volume of 15,486,920. The business's fifty day moving average is $2.33 and its 200 day moving average is $2.92. Iovance Biotherapeutics, Inc. has a 52 week low of $1.64 and a 52 week high of $12.51. The company has a market capitalization of $806.93 million, a PE ratio of -1.81 and a beta of 0.88.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share (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 firm 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. Analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal 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.