HC Wainwright Reiterates “Buy” Rating for Iovance Biotherapeutics (NASDAQ:IOVA)

HC Wainwright reissued their buy rating on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $32.00 price target on the biotechnology company’s stock. HC Wainwright also issued estimates for Iovance Biotherapeutics’ Q3 2024 earnings at ($0.32) EPS and Q4 2024 earnings at ($0.28) EPS.

Several other research firms have also weighed in on IOVA. Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. UBS Group assumed coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective for the company. Finally, StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.33.

Iovance Biotherapeutics Stock Down 13.8 %

Shares of IOVA traded down $1.69 during midday trading on Wednesday, hitting $10.59. The company had a trading volume of 27,300,721 shares, compared to its average volume of 5,203,769. Iovance Biotherapeutics has a 52 week low of $3.76 and a 52 week high of $18.33. The company’s 50 day moving average price is $10.19 and its 200 day moving average price is $9.83. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -6.34 and a beta of 0.60.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share (EPS) 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 firm had revenue of $31.11 million for the quarter, compared to analysts’ expectations of $24.59 million. During the same period last 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. Equities analysts anticipate that Iovance Biotherapeutics will post -1.26 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. XML Financial LLC lifted its holdings in Iovance Biotherapeutics by 7.4% in the 3rd quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock valued at $136,000 after acquiring an additional 1,000 shares during the last quarter. Saturna Capital Corp increased its holdings in shares of Iovance Biotherapeutics by 7.0% in the third quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 1,353 shares in the last quarter. Diversified Trust Co lifted its position in shares of Iovance Biotherapeutics by 9.5% during the 2nd quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company’s stock valued at $136,000 after acquiring an additional 1,469 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Iovance Biotherapeutics by 11.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company’s stock worth $160,000 after acquiring an additional 1,776 shares in the last quarter. Finally, Xponance Inc. raised its position in shares of Iovance Biotherapeutics by 13.0% during the second quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 1,873 shares during the period. 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.