Iovance Biotherapeutics (NASDAQ:IOVA) Trading Down 0.6%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) dropped 0.6% during mid-day trading on Thursday . The stock traded as low as $7.86 and last traded at $8.06. Approximately 1,208,246 shares were traded during trading, a decline of 85% from the average daily volume of 7,823,669 shares. The stock had previously closed at $8.11.

Wall Street Analysts Forecast Growth

IOVA has been the subject of several recent analyst reports. JMP Securities reduced their price target on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a report on Thursday, June 20th. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Friday. Piper Sandler increased their price target on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.45.

Iovance Biotherapeutics Price Performance

The business’s 50-day moving average price is $10.02 and its two-hundred day moving average price is $10.79.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The company had revenue of $0.72 million for the quarter, compared to analyst estimates of $1.99 million. During the same quarter in the prior year, the company posted ($0.50) EPS. The business’s revenue for the quarter was up 71400.0% compared to the same quarter last year. Analysts forecast that Iovance Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Diversified Trust Co grew its stake in Iovance Biotherapeutics by 12.3% in the fourth quarter. Diversified Trust Co now owns 13,512 shares of the biotechnology company’s stock worth $110,000 after purchasing an additional 1,481 shares in the last quarter. Pale Fire Capital SE raised its position in shares of Iovance Biotherapeutics by 12.7% during the 4th 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. Chicago Partners Investment Group LLC boosted its holdings in Iovance Biotherapeutics by 15.0% in the fourth 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 during the period. American International Group Inc. increased its stake in Iovance Biotherapeutics by 2.6% during the first quarter. American International Group Inc. now owns 116,951 shares of the biotechnology company’s stock valued at $1,733,000 after purchasing an additional 2,941 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Iovance Biotherapeutics by 29.7% during the fourth quarter. Raymond James & Associates now owns 16,910 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 3,868 shares during the period. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Company Profile

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.