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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) has received an average recommendation of "Moderate Buy" from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $13.30.

Several equities analysts recently issued reports on the company. UBS Group cut Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $17.00 to $2.00 in a report on Friday, May 16th. Robert W. Baird cut their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Barclays decreased their price objective on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. HC Wainwright dropped their target price on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Piper Sandler reduced their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a report on Friday, February 28th.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several hedge funds have recently modified their holdings of IOVA. Accredited Investors Inc. acquired a new position in shares of Iovance Biotherapeutics in the first quarter valued at approximately $33,000. WealthTrust Axiom LLC acquired a new stake in Iovance Biotherapeutics during the first quarter worth approximately $33,000. AlphaQuest LLC grew its stake in Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock worth $34,000 after acquiring an additional 1,794 shares during the period. SBI Securities Co. Ltd. acquired a new position in Iovance Biotherapeutics in the 4th quarter valued at $36,000. Finally, Flputnam Investment Management Co. purchased a new position in shares of Iovance Biotherapeutics during the 1st quarter worth $37,000. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Performance

IOVA stock traded down $0.08 during trading on Friday, reaching $1.75. 7,668,108 shares of the company were exchanged, compared to its average volume of 8,718,272. The stock's 50 day moving average price is $2.80 and its 200 day moving average price is $5.15. Iovance Biotherapeutics has a 52-week low of $1.64 and a 52-week high of $12.51. The company has a market cap of $585.05 million, a P/E ratio of -1.18 and a beta of 1.06.

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 analysts' consensus estimates of ($0.25) by ($0.11). The company had revenue of $49.32 million for the quarter, compared to analyst estimates of $83.40 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. Iovance Biotherapeutics's revenue was up 6795.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.42) earnings per share. As a group, equities research analysts forecast that Iovance Biotherapeutics will post -1.24 EPS for the current year.

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.