Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Down 3.5%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) traded down 3.5% during mid-day trading on Monday . The company traded as low as $9.63 and last traded at $9.66. 2,773,155 shares were traded during trading, a decline of 63% from the average session volume of 7,579,016 shares. The stock had previously closed at $10.01.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Monday, August 12th. JMP Securities decreased 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. Finally, Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $10.00 in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.00.

Iovance Biotherapeutics Trading Up 1.9 %

The stock has a market capitalization of $2.62 billion, a PE ratio of -5.19 and a beta of 0.62. The firm has a 50-day moving average price of $9.46 and a 200-day moving average price of $11.04.

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

Institutional Trading of Iovance Biotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Perceptive Advisors LLC grew its stake in Iovance Biotherapeutics by 34.6% in the 2nd quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock valued at $207,984,000 after buying an additional 6,660,151 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock worth $369,245,000 after acquiring an additional 2,102,480 shares during the period. Avoro Capital Advisors LLC grew its position in shares of Iovance Biotherapeutics by 74.6% in the first quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock valued at $173,394,000 after purchasing an additional 5,000,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Iovance Biotherapeutics by 60.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock valued at $78,071,000 after purchasing an additional 1,991,262 shares during the period. Finally, Long Focus Capital Management LLC lifted its holdings in Iovance Biotherapeutics by 195.1% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock worth $33,139,000 after purchasing an additional 2,731,688 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

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.