Iovance Biotherapeutics (NASDAQ:IOVA) Shares Cross Above Fifty Day Moving Average - Here's Why

Key Points

• Iovance shares briefly crossed above its 50-day moving average (50‑day MA $2.24), trading as high as $2.24 intraday before last trading at $2.16 on volume of about 9.47 million shares.
• Analyst sentiment is mixed—6 Buys, 7 Holds and 2 Sells—with a MarketBeat consensus rating of "Hold" and a consensus target price of $11 despite widely varying individual price targets and recent downgrades/upgrades.
• Fundamentals remain weak: market cap about $857.5M, a negative PE (-1.80), and the company posted an EPS beat (‑$0.25 vs. ‑$0.29) but missed revenue expectations and reported deeply negative margins and return on equity.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.24 and traded as high as $2.24. Iovance Biotherapeutics shares last traded at $2.16, with a volume of 9,471,968 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IOVA shares. HC Wainwright dropped their price objective on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, October 29th. Barclays lifted their price target on Iovance Biotherapeutics from $4.00 to $9.00 and gave the stock an "overweight" rating in a research note on Monday, November 24th. Chardan Capital reduced their price objective on Iovance Biotherapeutics from $20.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Iovance Biotherapeutics in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Iovance Biotherapeutics presently has an average rating of "Hold" and a consensus target price of $11.00.

Iovance Biotherapeutics Stock Down 1.8%

The company has a fifty day moving average price of $2.24 and a 200 day moving average price of $2.25. The stock has a market cap of $857.46 million, a PE ratio of -1.80 and a beta of 0.82.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its earnings results on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. The company had revenue of $67.46 million during the quarter, compared to analysts' expectations of $76.20 million. Iovance Biotherapeutics had a negative return on equity of 55.24% and a negative net margin of 158.78%. As a group, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WealthTrust Axiom LLC bought a new stake in Iovance Biotherapeutics in the 1st quarter worth $33,000. Flputnam Investment Management Co. purchased a new stake in shares of Iovance Biotherapeutics during the first quarter worth about $37,000. Vontobel Holding Ltd. bought a new stake in shares of Iovance Biotherapeutics in the third quarter worth about $26,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Iovance Biotherapeutics during the 3rd quarter valued at about $27,000. Finally, Federated Hermes Inc. raised its position in Iovance Biotherapeutics by 67.6% during the 3rd quarter. Federated Hermes Inc. now owns 15,111 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 6,095 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors.

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.

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