Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Up 8% - What's Next?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) rose 8% during mid-day trading on Wednesday . The company traded as high as $2.10 and last traded at $2.10. Approximately 12,292,848 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 11,835,905 shares. The stock had previously closed at $1.94.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on IOVA shares. UBS Group cut shares of Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $17.00 to $2.00 in a report on Friday, May 16th. JMP Securities reissued a "market perform" rating on shares of Iovance Biotherapeutics in a research note on Friday, May 9th. Baird R W downgraded shares of Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. HC Wainwright cut 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. Finally, Barclays lowered their target price on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Two investment 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.com, the company has a consensus rating of "Hold" and a consensus target price of $12.22.

Iovance Biotherapeutics Stock Up 4.9%

The firm's 50-day simple moving average is $1.89 and its 200 day simple moving average is $3.69. The stock has a market capitalization of $781.40 million, a P/E ratio of -1.89 and a beta of 0.85.

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

Institutional Investors Weigh In On Iovance Biotherapeutics

Several large investors have recently made changes to their positions in the company. 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 1st 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 valued at $19,239,000 after buying an additional 3,869,617 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Iovance Biotherapeutics by 30.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company's stock valued at $18,554,000 after buying an additional 1,301,846 shares in the last quarter. Teza Capital Management LLC bought a new stake in shares of Iovance Biotherapeutics in the 1st quarter valued at approximately $51,000. Invenomic Capital Management LP bought a new stake in shares of Iovance Biotherapeutics in the 1st quarter valued at approximately $18,281,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Iovance Biotherapeutics in the 1st quarter valued at approximately $4,191,000. 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.