Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s share price rose 7.5% during mid-day trading on Friday . The company traded as high as $1.97 and last traded at $1.94. Approximately 2,295,873 shares were traded during trading, a decline of 74% from the average daily volume of 8,684,486 shares. The stock had previously closed at $1.80.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on IOVA shares. UBS Group cut Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $17.00 to $2.00 in a research note on Friday, May 16th. HC Wainwright decreased their price objective on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Citizens Jmp lowered Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a research note on Friday, May 9th. Baird R W downgraded Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Iovance Biotherapeutics in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of "Hold" and a consensus target price of $13.30.
Get Our Latest Stock Analysis on IOVA
Iovance Biotherapeutics Stock Performance
The company's 50 day moving average price is $2.66 and its 200 day moving average price is $4.99. The company has a market cap of $652.84 million, a price-to-earnings ratio of -1.31 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) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.11). The company had revenue of $49.32 million during 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%. The firm's quarterly revenue was up 6795.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.42) EPS. On average, equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.
Institutional Investors Weigh In On Iovance Biotherapeutics
A number of institutional investors have recently added to or reduced their stakes in IOVA. Accredited Investors Inc. acquired a new stake in Iovance Biotherapeutics in the 1st quarter valued at $33,000. WealthTrust Axiom LLC acquired a new stake in Iovance Biotherapeutics in the first quarter worth about $33,000. AlphaQuest LLC increased its position in Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock worth $34,000 after purchasing an additional 1,794 shares during the period. SBI Securities Co. Ltd. acquired a new position in Iovance Biotherapeutics during the 4th quarter valued at about $36,000. Finally, Flputnam Investment Management Co. bought a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at about $37,000. 77.03% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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