Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts rate Iovance Biotherapeutics “Hold” overall: Of 10 covering firms, five recommend buying, three recommend holding and two recommend selling. The average 12-month price target is $8.43, versus a recent share price of $4.69.
• Recent quarterly results were mixed: Iovance met the consensus loss estimate at $0.19 per share, while revenue of $71.43 million fell short of the $77.84 million estimate but increased 44.9% year over year. Analysts expect a full-year loss of approximately $0.60 per share.
• Institutional ownership remains substantial: Hedge funds and other institutional investors own 77.03% of the stock, with several funds increasing their positions during the second quarter.

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have been assigned a consensus rating of "Hold" from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.4286.

Several analysts have weighed in on IOVA shares. Chardan Capital lowered their target price on Iovance Biotherapeutics from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several hedge funds have recently added to or reduced their stakes in IOVA. Tema ETFs LLC lifted its holdings in shares of Iovance Biotherapeutics by 52.1% in the second quarter. Tema ETFs LLC now owns 280,048 shares of the biotechnology company's stock valued at $1,165,000 after purchasing an additional 95,933 shares in the last quarter. Centurion Wealth Management LLC grew its position in shares of Iovance Biotherapeutics by 18.5% in the second quarter. Centurion Wealth Management LLC now owns 69,168 shares of the biotechnology company's stock valued at $288,000 after purchasing an additional 10,784 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Iovance Biotherapeutics by 100.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 818,913 shares of the biotechnology company's stock worth $3,407,000 after purchasing an additional 409,449 shares in the last quarter. Mirador Capital Partners LP increased its stake in shares of Iovance Biotherapeutics by 0.7% during the 2nd quarter. Mirador Capital Partners LP now owns 1,080,288 shares of the biotechnology company's stock worth $4,494,000 after purchasing an additional 7,052 shares in the last quarter. Finally, Optiver Holding B.V. raised its position in shares of Iovance Biotherapeutics by 24.0% during the 1st quarter. Optiver Holding B.V. now owns 36,660 shares of the biotechnology company's stock worth $129,000 after purchasing an additional 7,092 shares during the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $4.69 on Friday. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -4.94 and a beta of 0.70. The business's 50 day simple moving average is $4.31 and its 200-day simple moving average is $3.70. Iovance Biotherapeutics has a 12 month low of $1.76 and a 12 month high of $5.64.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share for the quarter, meeting the consensus estimate of ($0.19). The firm had revenue of $71.43 million during the quarter, compared to the consensus estimate of $77.84 million. Iovance Biotherapeutics had a negative return on equity of 50.17% and a negative net margin of 123.92%.Iovance Biotherapeutics's quarterly revenue was up 44.9% on a year-over-year basis. During the same period last year, the business posted ($0.36) EPS. On average, equities analysts anticipate that Iovance Biotherapeutics will post -0.6 earnings per share for the current year.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company's lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance's pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance's TIL platform harnesses a patient's own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.

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