The Vanguard Group, Inc. recently announced the acquisition of new stake in Iovance Biotherapeutics Inc (NASDAQ:IOVA). The institutional investor has increased its shareholding in the Healthcare company by 8.48% to 21.74 million shares with purchase of 1.7 million shares. This fresh investment now brings its stake to 8.49% valued currently at $176.75 million. In addition, SSgA Funds Management, Inc. raised its holdings by 3.17 million to 16.73 million shares. And BlackRock Fund Advisors has lifted its position by 9.08% or 1.35 million shares – to 16.22 million shares.
Currently, there are 255.92M common shares owned by the public and among those 199.70M shares have been available to trade.
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The top 3 mutual fund holders in Iovance Biotherapeutics Inc are SPDR S&P Biotech ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. SPDR S&P Biotech ETF owns 11.07 million shares of the company’s stock, all valued at over $89.98 million. The company sold -0.11 million shares recently to bring their total holdings to about 4.33% of the shares outstanding. Vanguard Total Stock Market ETF bought 8909.0 shares to see its total holdings expand to 7.1 million shares valued at over $57.76 million and representing 2.78% of the shares outstanding. iShares Russell 2000 ETF sold 16308.0 shares to bring its total holdings to over 6.16 million shares at a value of $50.07 million. iShares Russell 2000 ETF now owns shares totaling to 2.41% of the shares outstanding.
However, the script later moved the day high at 8.42, down -3.71%. The company’s stock has a 5-day price change of -7.05% and 133.63% over the past three months. IOVA shares are trading -4.31% year to date (YTD), with the 12-month market performance up to 24.08% higher. It has a 12-month low price of $3.21 and touched a high of $10.31 over the same period. IOVA has an average intraday trading volume of 7.70 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.84%, 12.57%, and 20.41% respectively.
Institutional ownership of Iovance Biotherapeutics Inc (NASDAQ: IOVA) shares accounts for 73.23% of the company’s 255.92M shares outstanding. Mutual fund holders own 38.33%, while other institutional holders and individual stakeholders account for 9.40% and 34.94% respectively.
It has a market capitalization of $1.99B and a beta (3y monthly) value of 0.38. The earnings-per-share (ttm) stands at -$2.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.80% over the week and 8.83% over the month.
Analysts forecast that Iovance Biotherapeutics Inc (IOVA) will achieve an EPS of -$0.44 for the current quarter, -$0.36 for the next quarter and -$1.37 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.53 while analysts give the company a high EPS estimate of -$0.34. Comparatively, EPS for the current quarter was -$0.64 a year ago. Earnings per share for the fiscal year are expected to increase by 24.72%, and 26.89% over the next financial year.
Looking at the support for the IOVA, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on November 20, 2023, with the firm’s price target at $12.
