Free Trial

Iovance Biotherapeutics (NASDAQ:IOVA) Shares Gap Up - Should You Buy?

Iovance Biotherapeutics logo with Medical background

Key Points

  • Iovance Biotherapeutics shares gapped up from $2.50 to $2.81 at market open on a recent Tuesday, currently trading at $2.73 with a volume of approximately 19.5 million shares.
  • Recent analyst ratings have seen mixed results, with Truist Financial downgrading the stock from a "buy" to a "hold," while several analysts revised price targets, leading to a consensus rating of "Hold" with an average target price of $11.90.
  • For the last quarter, Iovance reported a loss of ($0.33) earnings per share, missing estimates, with revenues also falling short of predictions at $59.95 million.
  • Need better tools to track Iovance Biotherapeutics? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $2.50, but opened at $2.81. Iovance Biotherapeutics shares last traded at $2.73, with a volume of 19,477,576 shares traded.

Wall Street Analyst Weigh In

IOVA has been the subject of a number of recent analyst reports. UBS Group cut shares of Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and dropped their price target for the company from $17.00 to $2.00 in a research report on Friday, May 16th. The Goldman Sachs Group downgraded shares of Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 15th. Zacks Research upgraded shares of Iovance Biotherapeutics to a "hold" rating in a research report on Tuesday, August 12th. Wells Fargo & Company cut 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. Finally, JMP Securities reissued a "market perform" rating on shares of Iovance Biotherapeutics in a research note on Friday, May 9th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Iovance Biotherapeutics has an average rating of "Hold" and a consensus price target of $11.90.

Get Our Latest Stock Analysis on Iovance Biotherapeutics

Iovance Biotherapeutics Stock Up 5.9%

The company's fifty day moving average is $2.30 and its 200 day moving average is $2.99. The stock has a market cap of $973.38 million, a PE ratio of -2.19 and a beta of 0.88.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $59.95 million for the quarter, compared to analysts' expectations of $67.14 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently bought and sold shares of the stock. Baird Financial Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 1.0% during the 4th quarter. Baird Financial Group Inc. now owns 195,845 shares of the biotechnology company's stock valued at $1,449,000 after buying an additional 2,000 shares during the last quarter. Algert Global LLC lifted its holdings in shares of 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 buying an additional 2,330 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Iovance Biotherapeutics by 1.4% during the second quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company's stock worth $557,000 after buying an additional 4,618 shares during the last quarter. Virtus ETF Advisers LLC increased its position in shares of Iovance Biotherapeutics by 12.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 43,927 shares of the biotechnology company's stock valued at $325,000 after purchasing an additional 4,858 shares during the period. Finally, Invesco Ltd. increased its position in shares of Iovance Biotherapeutics by 2.3% during the fourth quarter. Invesco Ltd. now owns 221,928 shares of the biotechnology company's stock valued at $1,642,000 after purchasing an additional 4,967 shares during the period. Hedge funds and other institutional investors own 77.03% of the company's stock.

About Iovance Biotherapeutics

(Get Free Report)

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.

Featured Articles

Should You Invest $1,000 in Iovance Biotherapeutics Right Now?

Before you consider Iovance Biotherapeutics, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Iovance Biotherapeutics wasn't on the list.

While Iovance Biotherapeutics currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

The Market’s Next Big Winners? Start Here
5 High Short Interest Stocks to Buy Before November
HUGE Upside Ahead: The Fastest Growing ETFs in the Market

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines