Virtus Investment Advisers LLC Increases Position in Iovance Biotherapeutics, Inc. $IOVA

Virtus Investment Advisers LLC lifted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 326.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 192,378 shares of the biotechnology company’s stock after purchasing an additional 147,271 shares during the period. Virtus Investment Advisers LLC owned 0.05% of Iovance Biotherapeutics worth $331,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WealthTrust Axiom LLC purchased a new position in Iovance Biotherapeutics during the first quarter worth approximately $33,000. Flputnam Investment Management Co. acquired a new stake in shares of Iovance Biotherapeutics in the 1st quarter worth $37,000. Meeder Advisory Services Inc. acquired a new stake in shares of Iovance Biotherapeutics in the 1st quarter worth $51,000. Teza Capital Management LLC purchased a new position in shares of Iovance Biotherapeutics during the 1st quarter worth $51,000. Finally, FORA Capital LLC acquired a new position in shares of Iovance Biotherapeutics during the 1st quarter valued at about $54,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Chardan Capital dropped their price objective on shares of Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company dropped their price target on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. HC Wainwright cut their price target on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research report on Wednesday, October 8th. Finally, Barclays increased their price objective on Iovance Biotherapeutics from $4.00 to $9.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Iovance Biotherapeutics has an average rating of “Hold” and a consensus price target of $11.00.

Iovance Biotherapeutics Stock Performance

Shares of IOVA stock opened at $2.47 on Friday. Iovance Biotherapeutics, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $9.52. The company has a 50 day moving average price of $2.23 and a 200 day moving average price of $2.21. The stock has a market capitalization of $980.52 million, a P/E ratio of -2.06 and a beta of 0.87.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. Iovance Biotherapeutics had a negative net margin of 158.78% and a negative return on equity of 55.24%. The company had revenue of $67.46 million for the quarter, compared to analyst estimates of $76.20 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. On average, research analysts forecast 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.