MetLife Investment Management LLC Cuts Position in Iovance Biotherapeutics, Inc. $IOVA

MetLife Investment Management LLC lessened its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 8.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 151,206 shares of the biotechnology company’s stock after selling 14,636 shares during the quarter. MetLife Investment Management LLC’s holdings in Iovance Biotherapeutics were worth $504,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IOVA. Accredited Investors Inc. purchased a new position in Iovance Biotherapeutics in the first quarter valued at $33,000. FNY Investment Advisers LLC purchased a new position in Iovance Biotherapeutics in the first quarter valued at $39,000. Gould Asset Management LLC CA purchased a new position in Iovance Biotherapeutics in the first quarter valued at $39,000. GF Fund Management CO. LTD. purchased a new position in Iovance Biotherapeutics in the fourth quarter valued at $47,000. Finally, Meeder Advisory Services Inc. purchased a new position in Iovance Biotherapeutics in the first quarter valued at $51,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Up 13.2%

NASDAQ IOVA 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 business’s 50-day moving average price is $2.38 and its 200 day moving average price is $2.75. 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 released 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). Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%.The company had revenue of $59.95 million for the quarter, compared to analysts’ expectations of $67.14 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on IOVA shares. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Iovance Biotherapeutics in a report on Tuesday, August 19th. Wells Fargo & Company dropped their price objective on Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Truist Financial lowered Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Mizuho dropped their price objective on Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating on the stock in a report on Monday, May 12th. Finally, Zacks Research raised Iovance Biotherapeutics to a “hold” rating in a report on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.90.

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.