Iovance Biotherapeutics (NASDAQ:IOVA) Reaches New 12-Month High - What's Next?

Key Points

• Iovance Biotherapeutics surged 13.7%, reaching a new 52-week high of $8.06 before closing near $7.99 on heavy trading volume.
• Analyst sentiment is mixed: six analysts rate the stock a Buy, two rate it Hold and two rate it Sell. The average price target is $8.38, with recent targets ranging from $8 to $14.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.11 per share versus the projected $0.13 loss and revenue of $198.63 million, up 65.7% year over year. Despite growth, Iovance remains unprofitable with an 89.11% negative net margin.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $8.06 and last traded at $7.99, with a volume of 24205000 shares changing hands. The stock had previously closed at $7.03.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IOVA. Citigroup reissued an "outperform" rating on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. Mizuho boosted their price target on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Tuesday. Citizens Jmp increased their price objective on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. Finally, Chardan Capital decreased their price objective on Iovance Biotherapeutics from $16.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.38.

Iovance Biotherapeutics Trading Up 13.7%

The company has a market cap of $3.62 billion, a P/E ratio of -10.95 and a beta of 0.71. The business has a 50 day moving average price of $4.86 and a 200-day moving average price of $4.05.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $198.63 million during the quarter, compared to analysts' expectations of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The firm's revenue was up 65.7% on a year-over-year basis. During the same period last year, the business earned ($0.33) earnings per share. On average, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Granite Investment Partners LLC bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at about $29,000. Motley Fool Asset Management LLC bought a new position in Iovance Biotherapeutics during the fourth quarter worth about $29,000. M&T Bank Corp acquired a new position in Iovance Biotherapeutics during the fourth quarter worth approximately $31,000. SBI Securities Co. Ltd. increased its position in Iovance Biotherapeutics by 169.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 11,568 shares of the biotechnology company's stock worth $32,000 after buying an additional 7,269 shares during the last quarter. Finally, KBC Group NV bought a new stake in Iovance Biotherapeutics in the first quarter valued at approximately $34,000. Institutional investors own 77.03% of the company's stock.

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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