Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Down 5.4%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price traded down 5.4% during trading on Monday . The company traded as low as $9.78 and last traded at $9.78. 1,082,794 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 7,579,316 shares. The stock had previously closed at $10.34.

Wall Street Analyst Weigh In

IOVA has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Monday, August 12th. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Piper Sandler cut Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $19.00 to $10.00 in a report on Monday, July 29th. Finally, JMP Securities reduced their target price on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Iovance Biotherapeutics Price Performance

The company has a 50-day moving average price of $9.71 and a two-hundred day moving average price of $10.79. The company has a market cap of $2.85 billion, a PE ratio of -5.65 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping 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 company had revenue of $31.11 million during the quarter, compared to the consensus estimate of $24.59 million. During the same quarter in the prior year, the business earned ($0.47) earnings per share. The company’s revenue was up 12969.7% compared to the same quarter last year. On average, equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.26 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. boosted its holdings in Iovance Biotherapeutics by 33.9% in the first quarter. Sei Investments Co. now owns 333,148 shares of the biotechnology company’s stock valued at $4,937,000 after purchasing an additional 84,382 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Iovance Biotherapeutics by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 22,812,820 shares of the biotechnology company’s stock valued at $185,468,000 after purchasing an additional 669,350 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Iovance Biotherapeutics in the first quarter valued at about $246,000. UBS Group AG boosted its holdings in Iovance Biotherapeutics by 255.2% in the fourth quarter. UBS Group AG now owns 857,308 shares of the biotechnology company’s stock valued at $6,970,000 after purchasing an additional 615,920 shares during the last quarter. Finally, Opaleye Management Inc. boosted its holdings in Iovance Biotherapeutics by 47.0% in the fourth quarter. Opaleye Management Inc. now owns 897,000 shares of the biotechnology company’s stock valued at $7,293,000 after purchasing an additional 287,000 shares during the last quarter. Hedge funds and other 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.