Iovance Biotherapeutics (NASDAQ:IOVA) Sees Unusually-High Trading Volume - Here's What Happened

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 9,851,325 shares were traded during trading, an increase of 20% from the previous session's volume of 8,217,428 shares.The stock last traded at $1.83 and had previously closed at $1.75.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IOVA shares. Mizuho decreased their target price on Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating for the company in a research report on Monday. Barclays decreased their target price on Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating for the company in a research report on Monday. Robert W. Baird decreased their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. HC Wainwright decreased their target price on Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, JMP Securities reissued a "market perform" rating on shares of Iovance Biotherapeutics in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $14.80.

Iovance Biotherapeutics Stock Down 0.6%

The company has a 50-day moving average of $3.24 and a 200 day moving average of $5.95. The firm has a market capitalization of $566.02 million, a PE ratio of -1.14 and a beta of 1.06.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $49.32 million for the quarter, compared to analysts' expectations of $83.40 million. During the same quarter in the previous year, the firm earned ($0.42) earnings per share. Iovance Biotherapeutics's quarterly revenue was up 6795.1% compared to the same quarter last year. As a group, equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several hedge funds have recently added to or reduced their stakes in the company. AlphaQuest LLC lifted its stake in Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock worth $34,000 after purchasing an additional 1,794 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Iovance Biotherapeutics by 10.1% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company's stock worth $158,000 after purchasing an additional 1,950 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Iovance Biotherapeutics by 1.0% during the fourth quarter. Baird Financial Group Inc. now owns 195,845 shares of the biotechnology company's stock worth $1,449,000 after purchasing an additional 2,000 shares during the last quarter. Algert Global LLC lifted its stake in Iovance Biotherapeutics by 4.3% during the fourth quarter. Algert Global LLC now owns 56,400 shares of the biotechnology company's stock worth $417,000 after purchasing an additional 2,330 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Iovance Biotherapeutics by 3.9% in the 4th quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company's stock valued at $586,000 after acquiring an additional 2,951 shares during the last quarter. Institutional investors 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.