Iovance Biotherapeutics (NASDAQ:IOVA) Receives Buy Rating from HC Wainwright

Key Points

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Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $20.00 price target on the biotechnology company's stock.

Other research analysts have also issued reports about the company. The Goldman Sachs Group lowered Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 15th. Citizens Jmp cut Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a report on Friday, May 9th. Barclays reduced their price objective on Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Mizuho cut their target price on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating for the company in a research report on Monday, May 12th. Finally, Wells Fargo & Company dropped their price objective on Iovance Biotherapeutics from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $11.90.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock traded up $0.15 during midday trading on Tuesday, hitting $2.69. 10,634,768 shares of the company were exchanged, compared to its average volume of 17,524,144. The firm has a 50 day simple moving average of $2.30 and a 200-day simple moving average of $3.01. Iovance Biotherapeutics has a 52 week low of $1.64 and a 52 week high of $12.51. The firm has a market cap of $973.38 million, a P/E ratio of -2.19 and a beta of 0.88.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.04). Iovance Biotherapeutics had a negative net margin of 161.44% and a negative return on equity of 52.87%. The business had revenue of $59.95 million for the quarter, compared to the consensus estimate of $67.14 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Equities research analysts expect that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its position in shares of Iovance Biotherapeutics by 0.8% in the 4th quarter. Wells Fargo & Company MN now owns 580,245 shares of the biotechnology company's stock worth $4,294,000 after purchasing an additional 4,401 shares during the last quarter. Invesco Ltd. raised its stake in shares of Iovance Biotherapeutics by 2.3% in the fourth quarter. Invesco Ltd. now owns 221,928 shares of the biotechnology company's stock worth $1,642,000 after acquiring an additional 4,967 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Iovance Biotherapeutics by 7.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 46,417 shares of the biotechnology company's stock valued at $343,000 after purchasing an additional 3,266 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Iovance Biotherapeutics by 15.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 28,729 shares of the biotechnology company's stock worth $213,000 after purchasing an additional 3,924 shares during the last quarter. Finally, Barclays PLC increased its position in Iovance Biotherapeutics by 2.2% during the fourth quarter. Barclays PLC now owns 617,803 shares of the biotechnology company's stock worth $4,572,000 after acquiring an additional 13,219 shares during the period. Institutional investors and hedge funds own 77.03% of the company's stock.

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.