Carnegie Investment Counsel Takes Position in Iovance Biotherapeutics, Inc. $IOVA

Carnegie Investment Counsel acquired a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 31,000 shares of the biotechnology company’s stock, valued at approximately $53,000.

Several other large investors have also recently modified their holdings of IOVA. Accredited Investors Inc. bought a new position in shares of Iovance Biotherapeutics during the 1st quarter worth approximately $33,000. WealthTrust Axiom LLC bought a new position in shares of Iovance Biotherapeutics during the 1st quarter worth approximately $33,000. Flputnam Investment Management Co. bought a new position in shares of Iovance Biotherapeutics during the 1st quarter worth approximately $37,000. Gould Asset Management LLC CA bought a new position in shares of Iovance Biotherapeutics during the 1st quarter worth approximately $39,000. Finally, Meeder Advisory Services Inc. bought a new position in shares of Iovance Biotherapeutics during the 1st quarter worth approximately $51,000. Institutional investors own 77.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on IOVA. 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 research note on Friday, August 8th. Zacks Research upgraded shares of Iovance Biotherapeutics to a “hold” rating in a research note on Tuesday, August 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research note on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Iovance Biotherapeutics in a research note on Tuesday, August 19th. Finally, Chardan Capital cut their price target 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. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.90.

Iovance Biotherapeutics Price Performance

IOVA stock opened at $2.31 on Tuesday. The firm’s fifty day simple moving average is $2.27 and its 200-day simple moving average is $2.35. The company has a market capitalization of $835.88 million, a P/E ratio of -1.88 and a beta of 0.83. Iovance Biotherapeutics, Inc. has a 12 month low of $1.64 and a 12 month high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data 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 analysts’ expectations 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. As a group, sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share 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.