Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Average Rating of “Moderate Buy” by Analysts

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $23.00.

IOVA has been the subject of several recent research reports. JMP Securities reduced their price target on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a report on Thursday, June 20th. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $19.00 to $10.00 in a report on Monday, July 29th. Finally, HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Monday, August 12th.

Iovance Biotherapeutics Stock Down 2.3 %

IOVA opened at $9.39 on Tuesday. The stock’s fifty day moving average is $9.92 and its two-hundred day moving average is $10.41. The company has a market capitalization of $2.63 billion, a P/E ratio of -5.22 and a beta of 0.63. Iovance Biotherapeutics has a 52 week low of $3.21 and a 52 week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.01. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The firm had revenue of $31.11 million for the quarter, compared to analyst estimates of $24.59 million. During the same quarter last year, the firm posted ($0.47) earnings per share. The business’s revenue for the quarter was up 12969.7% on a year-over-year basis. Equities analysts anticipate that Iovance Biotherapeutics will post -1.26 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of large investors have recently made changes to their positions in the business. Diversified Trust Co boosted its position in shares of Iovance Biotherapeutics by 9.5% in the 2nd quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company’s stock worth $136,000 after purchasing an additional 1,469 shares in the last quarter. Xponance Inc. grew its stake in shares of Iovance Biotherapeutics by 13.0% during the second quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock worth $131,000 after acquiring an additional 1,873 shares during the last quarter. Pale Fire Capital SE increased its holdings in shares of Iovance Biotherapeutics by 12.7% during the fourth quarter. Pale Fire Capital SE now owns 17,024 shares of the biotechnology company’s stock valued at $138,000 after acquiring an additional 1,924 shares in the last quarter. Arizona State Retirement System raised its position in shares of Iovance Biotherapeutics by 3.8% in the 2nd quarter. Arizona State Retirement System now owns 54,734 shares of the biotechnology company’s stock valued at $439,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in Iovance Biotherapeutics by 15.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company’s stock worth $157,000 after purchasing an additional 2,688 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

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.