Iovance Biotherapeutics, Inc. $IOVA Shares Acquired by Aberdeen Group plc

Aberdeen Group plc grew its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 291.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 516,289 shares of the biotechnology company’s stock after buying an additional 384,489 shares during the period. Aberdeen Group plc owned 0.15% of Iovance Biotherapeutics worth $888,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of IOVA. Accredited Investors Inc. purchased a new stake in Iovance Biotherapeutics in the 1st quarter valued at about $33,000. WealthTrust Axiom LLC acquired a new position in Iovance Biotherapeutics during the first quarter valued at approximately $33,000. Flputnam Investment Management Co. acquired a new stake in shares of Iovance Biotherapeutics in the first quarter worth $37,000. Gould Asset Management LLC CA purchased a new position in Iovance Biotherapeutics in the first quarter valued at about $39,000. Finally, Meeder Advisory Services Inc. purchased a new position in Iovance Biotherapeutics in the 1st quarter worth approximately $51,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA opened at $2.18 on Friday. The business’s 50-day moving average price is $2.28 and its two-hundred day moving average price is $2.40. 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 $788.83 million, a P/E ratio of -1.77 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its 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). The business had revenue of $59.95 million during the quarter, compared to the consensus estimate of $67.14 million. Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Analyst Ratings Changes

IOVA has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Iovance Biotherapeutics in a research note on Tuesday, August 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Iovance Biotherapeutics to a “hold” rating in a research report on Tuesday, August 12th. Wells Fargo & Company reduced their price objective on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Finally, Chardan Capital reduced their price target on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Iovance Biotherapeutics currently has a consensus rating of “Hold” and an average target price of $11.90.

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.