Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Up 1.6%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price rose 1.6% during mid-day trading on Friday . The stock traded as high as $8.20 and last traded at $8.14. Approximately 1,002,026 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 7,797,060 shares. The stock had previously closed at $8.01.

Analyst Upgrades and Downgrades

IOVA has been the subject of several recent research reports. JMP Securities dropped 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 research report on Thursday, June 20th. Piper Sandler increased their price target on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Friday. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $24.45.

Iovance Biotherapeutics Stock Up 0.1 %

The company has a market cap of $2.24 billion, a price-to-earnings ratio of -4.46 and a beta of 0.80. The company’s fifty day moving average price is $10.02 and its two-hundred day moving average price is $10.82.

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

Institutional Trading of Iovance Biotherapeutics

Several hedge funds have recently modified their holdings of the stock. Diversified Trust Co grew its stake in shares of Iovance Biotherapeutics by 12.3% during the fourth quarter. Diversified Trust Co now owns 13,512 shares of the biotechnology company’s stock valued at $110,000 after purchasing an additional 1,481 shares during the last quarter. Pale Fire Capital SE grew its stake 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 purchasing an additional 1,924 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Iovance Biotherapeutics by 15.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company’s stock valued at $157,000 after purchasing an additional 2,688 shares during the last quarter. American International Group Inc. grew its stake in shares of 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 boosted its stake in Iovance Biotherapeutics by 29.7% in the fourth quarter. Raymond James & Associates now owns 16,910 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 3,868 shares during the last quarter. 77.03% of the stock is owned by 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.