Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Free Report) – Zacks Research decreased their FY2024 earnings per share estimates for Iovance Biotherapeutics in a report released on Monday, April 15th. Zacks Research analyst S. Ganoria now expects that the biotechnology company will post earnings of ($1.57) per share for the year, down from their prior estimate of ($1.56). The consensus estimate for Iovance Biotherapeutics’ current full-year earnings is ($1.40) per share.
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The biotechnology company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.01). The company had revenue of $0.48 million during the quarter, compared to the consensus estimate of $1.44 million. During the same period in the prior year, the firm earned ($0.64) earnings per share.
Read Our Latest Stock Report on IOVA
Iovance Biotherapeutics Stock Down 1.0 %
Shares of Iovance Biotherapeutics stock opened at $11.80 on Wednesday. The stock’s 50-day simple moving average is $13.77 and its 200-day simple moving average is $8.84. Iovance Biotherapeutics has a 52 week low of $3.21 and a 52 week high of $18.33. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -6.28 and a beta of 0.62.
Institutional Investors Weigh In On Iovance Biotherapeutics
Institutional investors have recently added to or reduced their stakes in the stock. MHR Fund Management LLC acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $76,661,000. Perceptive Advisors LLC raised its holdings in Iovance Biotherapeutics by 53.8% in the 1st quarter. Perceptive Advisors LLC now owns 15,339,735 shares of the biotechnology company’s stock valued at $93,726,000 after acquiring an additional 5,367,955 shares during the period. State Street Corp grew its position in shares of Iovance Biotherapeutics by 71.9% during the 2nd quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company’s stock worth $129,949,000 after purchasing an additional 4,925,025 shares in the last quarter. BlackRock Inc. boosted its position in shares of Iovance Biotherapeutics by 36.5% during the 2nd quarter. BlackRock Inc. now owns 17,001,791 shares of the biotechnology company’s stock worth $119,693,000 after acquiring an additional 4,545,129 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Iovance Biotherapeutics by 374.2% during the 4th quarter. Morgan Stanley now owns 4,969,869 shares of the biotechnology company’s stock worth $31,757,000 after acquiring an additional 3,921,869 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Iovance Biotherapeutics
In other news, Director Merrill A. Mcpeak acquired 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average cost of $9.15 per share, for a total transaction of $2,287,500.00. Following the completion of the acquisition, the director now owns 320,150 shares in the company, valued at $2,929,372.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.40% of the company’s stock.
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.
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