Iovance Biotherapeutics (NASDAQ:IOVA) Trading 1.9% Higher

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) traded up 1.9% during mid-day trading on Monday . The stock traded as high as $8.24 and last traded at $8.16. 1,412,443 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 7,851,240 shares. The stock had previously closed at $8.01.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IOVA. JMP Securities reduced their price target on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, June 20th. Wells Fargo & Company boosted their price target on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Piper Sandler increased their price objective on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Friday, May 31st. Finally, Barclays upped their price target on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.45.

Iovance Biotherapeutics Stock Down 4.0 %

The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -4.51 and a beta of 0.80. The business’s 50-day moving average is $10.23 and its 200-day moving average is $10.82.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.03. The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $1.99 million. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The company’s revenue for the quarter was up 71400.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.50) EPS. As a group, analysts expect that Iovance Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several institutional investors have recently made changes to their positions in the company. Annandale Capital LLC acquired a new stake in Iovance Biotherapeutics during the third quarter valued at $32,000. Quadrant Capital Group LLC increased its position in shares of Iovance Biotherapeutics by 1,227.8% in the fourth quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 4,678 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Iovance Biotherapeutics by 284.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock worth $61,000 after buying an additional 5,577 shares during the period. Signaturefd LLC increased its holdings in Iovance Biotherapeutics by 256.6% in the 4th quarter. Signaturefd LLC now owns 8,723 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 6,277 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Iovance Biotherapeutics during the first quarter valued at $87,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

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.