Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) shares traded up 3.8% during trading on Wednesday . The stock traded as high as $1.76 and last traded at $1.80. 1,378,265 shares were traded during trading, a decline of 84% from the average session volume of 8,647,541 shares. The stock had previously closed at $1.73.
Analyst Ratings Changes
IOVA has been the subject of a number of analyst reports. Chardan Capital cut their price target on Iovance Biotherapeutics from $30.00 to $25.00 and set a "buy" rating for the company in a report on Friday, May 9th. Truist Financial lowered Iovance Biotherapeutics from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. UBS Group downgraded Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $17.00 to $2.00 in a research report on Friday, May 16th. 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. Finally, Baird R W downgraded Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $13.30.
Get Our Latest Report on IOVA
Iovance Biotherapeutics Trading Up 5.5%
The stock's 50-day moving average price is $2.90 and its two-hundred day moving average price is $5.32. The stock has a market capitalization of $609.43 million, a P/E ratio of -1.22 and a beta of 1.06.
Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released 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 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 451.25% and a negative return on equity of 58.43%. Iovance Biotherapeutics's revenue for the quarter was up 6795.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.42) EPS. On average, equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.
Institutional Trading of Iovance Biotherapeutics
A number of large investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Iovance Biotherapeutics by 202.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company's stock worth $19,239,000 after acquiring an additional 3,869,617 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 30.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company's stock worth $18,554,000 after buying an additional 1,301,846 shares in the last quarter. Teza Capital Management LLC purchased a new stake in Iovance Biotherapeutics during the first quarter valued at $51,000. Invenomic Capital Management LP purchased a new stake in Iovance Biotherapeutics during the first quarter valued at $18,281,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Iovance Biotherapeutics during the first quarter valued at $4,191,000. 77.03% of the stock is currently owned by institutional investors.
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.
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