Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $23.00.

A number of equities research analysts have recently issued reports on the stock. Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $10.00 in a report on Monday, July 29th. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. JMP Securities decreased 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Monday, August 12th.

Institutional Investors Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. lifted its stake in shares of Iovance Biotherapeutics by 19.1% in the fourth quarter. Victory Capital Management Inc. now owns 26,921 shares of the biotechnology company’s stock valued at $219,000 after purchasing an additional 4,323 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Iovance Biotherapeutics by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,747,023 shares of the biotechnology company’s stock valued at $14,203,000 after purchasing an additional 54,490 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Iovance Biotherapeutics during the fourth quarter worth $125,000. Quadrant Capital Group LLC boosted its position in Iovance Biotherapeutics by 1,227.8% during the fourth quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 4,678 shares in the last quarter. Finally, Norges Bank acquired a new stake in Iovance Biotherapeutics in the fourth quarter valued at $9,109,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Down 4.8 %

Shares of IOVA stock opened at $9.66 on Tuesday. Iovance Biotherapeutics has a 52-week low of $3.21 and a 52-week high of $18.33. The business has a 50-day simple moving average of $9.85 and a 200-day simple moving average of $10.60. The stock has a market cap of $2.70 billion, a PE ratio of -5.37 and a beta of 0.63.

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

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.