AE Wealth Management LLC Makes New Investment in Iovance Biotherapeutics, Inc. $IOVA

AE Wealth Management LLC bought a new position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 52,947 shares of the biotechnology company’s stock, valued at approximately $91,000.

Several other hedge funds have also made changes to their positions in the company. Accredited Investors Inc. purchased a new position in Iovance Biotherapeutics during the 1st quarter worth approximately $33,000. WealthTrust Axiom LLC purchased a new stake in shares of Iovance Biotherapeutics in the first quarter valued at $33,000. Flputnam Investment Management Co. acquired a new stake in shares of Iovance Biotherapeutics in the first quarter worth $37,000. Meeder Advisory Services Inc. purchased a new position in shares of Iovance Biotherapeutics during the first quarter valued at $51,000. Finally, Teza Capital Management LLC acquired a new position in Iovance Biotherapeutics during the first quarter valued at $51,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 0.8%

Shares of NASDAQ:IOVA opened at $2.44 on Wednesday. The stock has a market capitalization of $968.61 million, a PE ratio of -2.03 and a beta of 0.87. Iovance Biotherapeutics, Inc. has a 1 year low of $1.64 and a 1 year high of $9.70. The firm has a fifty day moving average price of $2.21 and a 200 day moving average price of $2.22.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. The company had revenue of $67.46 million for the quarter, compared to analyst estimates of $76.20 million. Iovance Biotherapeutics had a negative return on equity of 55.24% and a negative net margin of 158.78%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IOVA has been the subject of a number of research reports. HC Wainwright decreased their price objective on Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Chardan Capital reduced their price target on shares of Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Wells Fargo & Company decreased their price target 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Iovance Biotherapeutics to a “hold” rating in a research report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.50.

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.