Iovance Biotherapeutics, Inc. $IOVA Shares Acquired by Palo Alto Investors LP

Palo Alto Investors LP raised its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,211,314 shares of the biotechnology company’s stock after purchasing an additional 169,629 shares during the period. Iovance Biotherapeutics accounts for approximately 2.0% of Palo Alto Investors LP’s investment portfolio, making the stock its 14th biggest holding. Palo Alto Investors LP owned about 0.96% of Iovance Biotherapeutics worth $10,694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp lifted its stake in shares of Iovance Biotherapeutics by 7.4% during the fourth quarter. Northern Trust Corp now owns 2,414,807 shares of the biotechnology company’s stock worth $17,870,000 after buying an additional 166,231 shares during the period. California State Teachers Retirement System increased its stake in shares of Iovance Biotherapeutics by 7.3% in the fourth quarter. California State Teachers Retirement System now owns 203,241 shares of the biotechnology company’s stock worth $1,504,000 after acquiring an additional 13,774 shares during the period. CM Management LLC increased its stake in shares of Iovance Biotherapeutics by 66.7% in the first quarter. CM Management LLC now owns 500,000 shares of the biotechnology company’s stock worth $1,665,000 after acquiring an additional 200,000 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Iovance Biotherapeutics by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 918,210 shares of the biotechnology company’s stock worth $3,058,000 after acquiring an additional 52,376 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Iovance Biotherapeutics by 78.5% in the fourth quarter. Hsbc Holdings PLC now owns 31,945 shares of the biotechnology company’s stock worth $232,000 after acquiring an additional 14,045 shares during the period. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. 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 note on Friday, August 8th. JMP Securities reiterated a “market perform” rating on shares of Iovance Biotherapeutics in a research note 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 note on Monday, May 12th. The Goldman Sachs Group lowered shares of Iovance Biotherapeutics from a “neutral” rating to a “sell” rating in a research note on Tuesday, July 15th. Finally, Truist Financial cut shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.90.

Iovance Biotherapeutics Price Performance

IOVA opened at $2.23 on Tuesday. The firm has a fifty day moving average price of $2.34 and a 200 day moving average price of $2.84. Iovance Biotherapeutics, Inc. has a 1 year low of $1.64 and a 1 year high of $12.51. The stock has a market cap of $806.93 million, a P/E ratio of -1.81 and a beta of 0.82.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its 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 net margin of 161.44% and a negative return on equity of 52.87%. The firm had revenue of $59.95 million during the quarter, compared to analyst estimates of $67.14 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS 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.