Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Up 5.7% – Still a Buy?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price traded up 5.7% on Thursday . The company traded as high as $9.90 and last traded at $9.90. 3,724,556 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 7,211,640 shares. The stock had previously closed at $9.37.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $10.00 in a research report on Monday, July 29th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Iovance Biotherapeutics Stock Up 0.7 %

The stock has a 50 day moving average of $10.27 and a 200 day moving average of $10.01. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -5.69 and a beta of 0.62.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share (EPS) 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 firm had revenue of $31.11 million for the quarter, compared to the consensus estimate of $24.59 million. During the same quarter in the previous year, the company earned ($0.47) EPS. The company’s revenue for the quarter was up 12969.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.26 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Large investors have recently bought and sold shares of the business. Perceptive Advisors LLC boosted its position in shares of Iovance Biotherapeutics by 34.6% during the 2nd quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock valued at $207,984,000 after purchasing an additional 6,660,151 shares in the last quarter. Avoro Capital Advisors LLC grew its position in shares of Iovance Biotherapeutics by 74.6% during the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock worth $173,394,000 after buying an additional 5,000,000 shares during the period. Long Focus Capital Management LLC increased its stake in shares of Iovance Biotherapeutics by 195.1% in the 2nd quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock valued at $33,139,000 after acquiring an additional 2,731,688 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Iovance Biotherapeutics by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock valued at $369,245,000 after acquiring an additional 2,102,480 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Iovance Biotherapeutics by 60.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock worth $78,071,000 after acquiring an additional 1,991,262 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.