Los Angeles Capital Management LLC Grows Stock Holdings in Iovance Biotherapeutics, Inc. $IOVA

Los Angeles Capital Management LLC boosted its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 127.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 37,655 shares of the biotechnology company’s stock after purchasing an additional 21,101 shares during the period. Los Angeles Capital Management LLC’s holdings in Iovance Biotherapeutics were worth $65,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of IOVA. Avantax Advisory Services Inc. lifted its position in Iovance Biotherapeutics by 39.0% during the first quarter. Avantax Advisory Services Inc. now owns 18,560 shares of the biotechnology company’s stock valued at $62,000 after purchasing an additional 5,205 shares in the last quarter. Grimes & Company Inc. raised its stake in Iovance Biotherapeutics by 17.6% during the 2nd quarter. Grimes & Company Inc. now owns 37,839 shares of the biotechnology company’s stock worth $65,000 after acquiring an additional 5,672 shares during the period. Accredited Investors Inc. purchased a new stake in shares of Iovance Biotherapeutics in the first quarter worth $33,000. WealthTrust Axiom LLC purchased a new stake in Iovance Biotherapeutics in the 1st quarter worth $33,000. Finally, Flputnam Investment Management Co. bought a new stake in Iovance Biotherapeutics during the 1st quarter valued at approximately $37,000. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $2.44 on Wednesday. The firm has a market capitalization of $968.61 million, a P/E ratio of -2.03 and a beta of 0.87. The business’s 50-day moving average is $2.21 and its 200 day moving average is $2.22. Iovance Biotherapeutics, Inc. has a 1 year low of $1.64 and a 1 year high of $9.70.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. Iovance Biotherapeutics had a negative return on equity of 55.24% and a negative net margin of 158.78%.The firm had revenue of $67.46 million during the quarter, compared to analysts’ expectations of $76.20 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. On average, analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. HC Wainwright reduced their price objective on Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Chardan Capital lowered their target price on shares of Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company dropped their price objective on Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Zacks Research upgraded shares of Iovance Biotherapeutics to a “hold” rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.50.

About Iovance Biotherapeutics

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.