HC Wainwright Reaffirms "Buy" Rating for Iovance Biotherapeutics (NASDAQ:IOVA)

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

A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. UBS Group downgraded shares of Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $17.00 to $2.00 in a report on Friday, May 16th. Citizens Jmp downgraded shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a report on Friday, May 9th. Zacks Research upgraded shares of Iovance Biotherapeutics to a "hold" rating in a report on Tuesday, August 12th. Finally, Barclays lowered their target price on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $11.90.

Iovance Biotherapeutics Stock Up 5.9%

Shares of IOVA stock traded up $0.15 during trading on Tuesday, reaching $2.69. The company's stock had a trading volume of 10,634,768 shares, compared to its average volume of 17,524,144. The business has a fifty day moving average price of $2.30 and a 200-day moving average price of $2.99. The company has a market cap of $973.38 million, a price-to-earnings ratio of -2.19 and a beta of 0.88. 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 issued its earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.04). The firm had revenue of $59.95 million for the quarter, compared to analyst estimates of $67.14 million. Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Research analysts anticipate that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp increased its holdings in shares of Iovance Biotherapeutics by 7.4% in the fourth quarter. Northern Trust Corp now owns 2,414,807 shares of the biotechnology company's stock valued at $17,870,000 after purchasing an additional 166,231 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Iovance Biotherapeutics by 0.8% in the fourth quarter. Wells Fargo & Company MN now owns 580,245 shares of the biotechnology company's stock valued at $4,294,000 after acquiring an additional 4,401 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Iovance Biotherapeutics by 7.3% in the fourth quarter. California State Teachers Retirement System now owns 203,241 shares of the biotechnology company's stock valued at $1,504,000 after acquiring an additional 13,774 shares in the last quarter. CM Management LLC grew its stake in shares of Iovance Biotherapeutics by 66.7% in the first quarter. CM Management LLC now owns 500,000 shares of the biotechnology company's stock valued at $1,665,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Iovance Biotherapeutics by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 918,210 shares of the biotechnology company's stock valued at $3,058,000 after acquiring an additional 52,376 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.