Iovance Biotherapeutics, Inc. $IOVA Position Boosted by Grimes & Company Inc.

Grimes & Company Inc. grew its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 17.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 37,839 shares of the biotechnology company’s stock after purchasing an additional 5,672 shares during the period. Grimes & Company Inc.’s holdings in Iovance Biotherapeutics were worth $65,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in IOVA. SG Americas Securities LLC boosted its position in shares of Iovance Biotherapeutics by 93.6% during the 1st quarter. SG Americas Securities LLC now owns 134,765 shares of the biotechnology company’s stock valued at $449,000 after purchasing an additional 65,140 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Iovance Biotherapeutics by 46.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,451 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 8,713 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Iovance Biotherapeutics by 99.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 34,061 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 16,990 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Iovance Biotherapeutics during the 1st quarter valued at about $39,000. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Iovance Biotherapeutics by 12.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 45,877 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 5,237 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on IOVA. Zacks Research upgraded shares of Iovance Biotherapeutics to a “hold” rating in a report on Tuesday, August 12th. The Goldman Sachs Group cut shares of Iovance Biotherapeutics from a “neutral” rating to a “sell” rating in a report on Tuesday, July 15th. Wells Fargo & Company decreased their target price 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. Chardan Capital decreased their target price on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a report on Saturday, September 27th. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.90.

Iovance Biotherapeutics Price Performance

NASDAQ IOVA opened at $2.18 on Wednesday. The company has a 50 day simple moving average of $2.35 and a 200-day simple moving average of $2.46. The firm has a market capitalization of $788.83 million, a price-to-earnings ratio of -1.77 and a beta of 0.83. Iovance Biotherapeutics, Inc. has a 52-week low of $1.64 and a 52-week high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). The company had revenue of $59.95 million during the quarter, compared to analysts’ expectations 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, analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Iovance Biotherapeutics 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.