Iovance Biotherapeutics (NASDAQ:IOVA) Shares Gap Up - What's Next?

Key Points

• Iovance Biotherapeutics' shares experienced a gap up, opening at $2.85 after closing at $2.68 prior to Monday's market opening, with a trading volume of over 3.5 million shares.
• Analysts have mixed opinions on Iova, with a buy rating and a price target of $25.00 from Chardan Capital, while Goldman Sachs downgraded the stock to a sell rating and others have reduced price targets significantly.
• The latest quarterly earnings report showed an EPS of ($0.36), missing estimates, with a revenue of $49.32 million, much lower than the expected $83.40 million.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $2.68, but opened at $2.85. Iovance Biotherapeutics shares last traded at $2.76, with a volume of 3,512,612 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IOVA shares. UBS Group lowered 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 research note on Friday, May 16th. HC Wainwright decreased their target price on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Baird R W lowered shares of Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. JMP Securities reissued a "market perform" rating on shares of Iovance Biotherapeutics in a research report on Friday, May 9th. Finally, Mizuho decreased their price target on Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating on the stock in a research note on Monday, May 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Iovance Biotherapeutics currently has an average rating of "Hold" and an average target price of $12.22.

Iovance Biotherapeutics Stock Performance

The business's 50-day moving average is $2.18 and its 200-day moving average is $3.32. The firm has a market cap of $866.55 million, a price-to-earnings ratio of -2.10 and a beta of 0.88.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced 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). The company had revenue of $49.32 million for the quarter, compared to analyst estimates of $83.40 million. Iovance Biotherapeutics had a negative return on equity of 49.71% and a negative net margin of 176.49%. The business's quarterly revenue was up 6795.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.42) earnings per share. Equities research analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IOVA. GF Fund Management CO. LTD. purchased a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at $47,000. One68 Global Capital LLC purchased a new position in Iovance Biotherapeutics during the 4th quarter valued at about $74,000. Quarry LP purchased a new position in Iovance Biotherapeutics during the 4th quarter valued at about $74,000. Fullcircle Wealth LLC purchased a new position in Iovance Biotherapeutics during the 4th quarter valued at about $74,000. Finally, Accredited Investors Inc. purchased a new position in Iovance Biotherapeutics during the 1st quarter valued at about $33,000. Institutional investors and hedge funds 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.