Iovance Biotherapeutics, Inc. $IOVA Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 49.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,234 shares of the biotechnology company’s stock after selling 15,711 shares during the quarter. Hsbc Holdings PLC’s holdings in Iovance Biotherapeutics were worth $53,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on IOVA shares. Wells Fargo & Company lowered 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. Mizuho lowered their target price on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating for the company in a report on Monday, May 12th. Zacks Research upgraded shares of Iovance Biotherapeutics to a “hold” rating in a report on Tuesday, August 12th. Chardan Capital lowered 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, HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Iovance Biotherapeutics in a report on Tuesday, August 19th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.90.

Iovance Biotherapeutics Stock Up 13.2%

Iovance Biotherapeutics stock opened at $2.49 on Monday. Iovance Biotherapeutics, Inc. has a 52-week low of $1.64 and a 52-week high of $12.51. The firm has a fifty day moving average of $2.38 and a 200-day moving average of $2.75. The firm has a market capitalization of $901.01 million, a P/E ratio of -2.02 and a beta of 0.82.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.04). The firm 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. On average, research analysts expect 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.