Iovance Biotherapeutics (NASDAQ:IOVA) Shares Gap Up - Time to Buy?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $2.49, but opened at $2.78. Iovance Biotherapeutics shares last traded at $3.00, with a volume of 11,950,535 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IOVA. The Goldman Sachs Group cut Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a research note on Tuesday, July 15th. UBS Group downgraded Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $17.00 to $2.00 in a research report on Friday, May 16th. Mizuho dropped their price objective on Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating on the stock in a report on Monday, May 12th. Barclays reduced their target price on Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Finally, JMP Securities reissued a "market perform" rating on shares of Iovance Biotherapeutics in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Iovance Biotherapeutics has an average rating of "Hold" and a consensus target price of $12.22.

Iovance Biotherapeutics Trading Down 5.0%

The business's fifty day simple moving average is $2.02 and its 200-day simple moving average is $3.53. The firm has a market cap of $1.04 billion, a P/E ratio of -2.53 and a beta of 0.85.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.11). The business had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. Iovance Biotherapeutics had a negative net margin of 176.49% and a negative return on equity of 49.71%. The company's revenue for the quarter was up 6795.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.42) EPS. Analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Trading of Iovance Biotherapeutics

Several large investors have recently added to or reduced their stakes in IOVA. GF Fund Management CO. LTD. bought a new position in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $47,000. One68 Global Capital LLC bought a new position in Iovance Biotherapeutics in the fourth quarter worth $74,000. Quarry LP bought a new position in Iovance Biotherapeutics in the fourth quarter worth $74,000. Fullcircle Wealth LLC purchased a new position in Iovance Biotherapeutics during the fourth quarter valued at $74,000. Finally, Accredited Investors Inc. bought a new stake in shares of Iovance Biotherapeutics during the 1st quarter valued at $33,000. Institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Company Profile

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.