Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Average Recommendation of "Moderate Buy" from Analysts

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eleven brokerages that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $16.33.

Several equities research analysts have commented on IOVA shares. The Goldman Sachs Group lowered their target price on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Baird R W cut Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday. Truist Financial lowered their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Piper Sandler dropped their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a research note on Friday, February 28th. Finally, Citizens Jmp cut Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a research note on Friday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC raised its holdings in shares of Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock valued at $34,000 after purchasing an additional 1,794 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Iovance Biotherapeutics by 10.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company's stock valued at $158,000 after purchasing an additional 1,950 shares during the period. Baird Financial Group Inc. increased its stake in Iovance Biotherapeutics by 1.0% during the fourth quarter. Baird Financial Group Inc. now owns 195,845 shares of the biotechnology company's stock worth $1,449,000 after purchasing an additional 2,000 shares during the period. Algert Global LLC increased its holdings in Iovance Biotherapeutics by 4.3% during the 4th quarter. Algert Global LLC now owns 56,400 shares of the biotechnology company's stock worth $417,000 after purchasing an additional 2,330 shares during the period. Finally, HighTower Advisors LLC grew its stake in shares of Iovance Biotherapeutics by 3.9% during the fourth quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company's stock worth $586,000 after purchasing an additional 2,951 shares in the last quarter. Institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Trading Down 44.8 %

Iovance Biotherapeutics stock traded down $1.42 on Wednesday, reaching $1.75. 112,141,445 shares of the stock were exchanged, compared to its average volume of 8,198,136. The stock has a market cap of $584.38 million, a PE ratio of -1.17 and a beta of 1.06. The firm has a fifty day moving average price of $3.36 and a two-hundred day moving average price of $6.10. Iovance Biotherapeutics has a twelve month low of $1.65 and a twelve month high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $49.32 million during the quarter, compared to analyst estimates of $83.40 million. During the same period last year, the company earned ($0.42) EPS. The business's revenue for the quarter was up 6795.1% on a year-over-year basis. Equities analysts anticipate that Iovance Biotherapeutics will post -1.24 EPS 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.