Iovance Biotherapeutics (NASDAQ:IOVA) Trading 1.9% Higher

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) traded up 1.9% during trading on Monday . The stock traded as high as $8.24 and last traded at $8.16. 1,412,443 shares changed hands during trading, a decline of 82% from the average session volume of 7,851,240 shares. The stock had previously closed at $8.01.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JMP Securities lowered their target price on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday. Barclays increased their price objective on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Piper Sandler raised their target price on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, May 31st. Finally, The Goldman Sachs Group raised their target price on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.45.

Iovance Biotherapeutics Price Performance

The stock has a market capitalization of $2.28 billion, a P/E ratio of -4.53 and a beta of 0.80. The stock’s fifty day moving average price is $10.38 and its 200 day moving average price is $10.79.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. The business had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.99 million. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The company’s revenue for the quarter was up 71400.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.50) EPS. On average, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.35 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in Iovance Biotherapeutics by 1,227.8% during the 4th 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 during the period. Fidelis Capital Partners LLC purchased a new stake in Iovance Biotherapeutics during the first quarter worth $87,000. Annandale Capital LLC bought a new stake in Iovance Biotherapeutics during the 3rd quarter valued at $32,000. Nisa Investment Advisors LLC increased its holdings in shares of Iovance Biotherapeutics by 284.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 5,577 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of Iovance Biotherapeutics by 256.6% in the 4th quarter. Signaturefd LLC now owns 8,723 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 6,277 shares during the period. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

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.