Brokerages Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Target Price at $12.22

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve research firms that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $12.22.

Several research firms have recently issued reports on IOVA. Mizuho cut their price objective on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating on the stock in a report on Monday, May 12th. UBS Group downgraded shares of Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and cut their price objective for the company from $17.00 to $2.00 in a report on Friday, May 16th. The Goldman Sachs Group cut their price objective on shares of Iovance Biotherapeutics from $16.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Piper Sandler cut their price objective 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. Finally, HC Wainwright cut their price objective on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, May 9th.

Iovance Biotherapeutics Stock Down 2.9%

Shares of IOVA stock traded down $0.05 on Thursday, hitting $1.69. The stock had a trading volume of 17,462,413 shares, compared to its average volume of 9,053,080. The company has a market cap of $564.34 million, a PE ratio of -1.36 and a beta of 0.86. The business has a 50 day moving average price of $2.30 and a 200 day moving average price of $4.24. Iovance Biotherapeutics has a one year low of $1.64 and a one year high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.11). The firm had revenue of $49.32 million during the quarter, compared to the consensus estimate of $83.40 million. Iovance Biotherapeutics had a negative return on equity of 49.71% and a negative net margin of 176.49%. The business's revenue for the quarter was up 6795.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. Equities research analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Iovance Biotherapeutics by 202.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company's stock valued at $19,239,000 after purchasing an additional 3,869,617 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Iovance Biotherapeutics by 30.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company's stock valued at $18,554,000 after purchasing an additional 1,301,846 shares during the last quarter. Teza Capital Management LLC acquired a new position in Iovance Biotherapeutics in the 1st quarter valued at $51,000. Invenomic Capital Management LP acquired a new stake in shares of Iovance Biotherapeutics in the 1st quarter worth $18,281,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Iovance Biotherapeutics in the 1st quarter worth $4,191,000. Hedge funds and other 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.