American Century Companies Inc. Decreases Stake in Iovance Biotherapeutics, Inc. $IOVA

American Century Companies Inc. reduced its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 80.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,974 shares of the biotechnology company’s stock after selling 101,680 shares during the period. American Century Companies Inc.’s holdings in Iovance Biotherapeutics were worth $83,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IOVA. Man Group plc purchased a new position in Iovance Biotherapeutics in the 4th quarter valued at about $17,871,000. Principal Financial Group Inc. boosted its position in Iovance Biotherapeutics by 28.7% in the 1st quarter. Principal Financial Group Inc. now owns 4,694,122 shares of the biotechnology company’s stock valued at $15,631,000 after buying an additional 1,047,335 shares during the last quarter. Stempoint Capital LP purchased a new position in Iovance Biotherapeutics in the 4th quarter valued at about $7,026,000. Nuveen LLC purchased a new position in Iovance Biotherapeutics in the 1st quarter valued at about $2,953,000. Finally, Ensign Peak Advisors Inc boosted its position in Iovance Biotherapeutics by 673.9% in the 4th quarter. Ensign Peak Advisors Inc now owns 577,265 shares of the biotechnology company’s stock valued at $4,272,000 after buying an additional 502,673 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Trading Up 13.2%

IOVA stock opened at $2.49 on Monday. The stock’s 50 day simple moving average is $2.38 and its 200 day simple moving average is $2.75. Iovance Biotherapeutics, Inc. has a 12-month low of $1.64 and a 12-month high of $12.51. The firm has a market cap of $901.01 million, a P/E ratio of -2.02 and a beta of 0.82.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its 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). Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%.The business had revenue of $59.95 million during the quarter, compared to the consensus estimate of $67.14 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.

Analysts Set New Price Targets

IOVA has been the subject of a number of analyst reports. Chardan Capital decreased their price objective on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Zacks Research raised shares of Iovance Biotherapeutics to a “hold” rating in a research report on Tuesday, August 12th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Iovance Biotherapeutics in a research report on Tuesday, August 19th. Mizuho reduced their price target on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating on the stock in a research report on Monday, May 12th. Finally, Truist Financial cut shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Iovance Biotherapeutics has an average rating of “Hold” and a consensus price target of $11.90.

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.