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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $20.25.

Several research analysts have issued reports on the company. Chardan Capital dropped their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group dropped their price target on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Truist Financial dropped their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Finally, Robert W. Baird cut their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th.

Iovance Biotherapeutics Price Performance

IOVA opened at $3.74 on Tuesday. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -2.51 and a beta of 0.93. Iovance Biotherapeutics has a 1-year low of $3.48 and a 1-year high of $15.90. The business has a 50 day moving average price of $5.40 and a two-hundred day moving average price of $7.96.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). The company had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. Equities analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently modified their holdings of IOVA. Assetmark Inc. increased its stake in shares of Iovance Biotherapeutics by 48.0% in the third quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company’s stock worth $121,000 after acquiring an additional 4,167 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Iovance Biotherapeutics in the third quarter worth $242,000. Victory Capital Management Inc. increased its stake in shares of Iovance Biotherapeutics by 399.4% in the third quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock worth $1,355,000 after acquiring an additional 115,387 shares during the last quarter. Grandfield & Dodd LLC acquired a new position in shares of Iovance Biotherapeutics in the third quarter worth $282,000. Finally, Intech Investment Management LLC acquired a new position in shares of Iovance Biotherapeutics in the third quarter worth $920,000. 77.03% of the stock is owned by institutional investors and hedge funds.

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.