Iovance Biotherapeutics (NASDAQ:IOVA) Trading Up 6.7% - What's Next?

Key Points

• Iovance Biotherapeutics shares rose by 6.7%, closing at $2.33, with trading volumes significantly below average at approximately 2.17 million shares.
• Analysts have varied opinions on the stock, with six holding a Buy rating, seven a Hold rating, and two a Sell rating, leading to an average rating of "Hold" with a consensus price target of $11.90.
• The company reported a quarterly loss of ($0.33) per share, falling short of analyst expectations and generating $59.95 million in revenue for the quarter compared to the anticipated $67.14 million.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s share price was up 6.7% during trading on Wednesday . The stock traded as high as $2.31 and last traded at $2.33. Approximately 2,167,820 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 13,135,826 shares. The stock had previously closed at $2.18.

Wall Street Analyst Weigh In

IOVA has been the topic of several recent analyst reports. Zacks Research upgraded Iovance Biotherapeutics to a "hold" rating in a report on Tuesday, August 12th. Wells Fargo & Company cut their price target on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. The Goldman Sachs Group downgraded shares of Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 15th. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Iovance Biotherapeutics in a research note on Tuesday, August 19th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Iovance Biotherapeutics in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $11.90.

Iovance Biotherapeutics Price Performance

The firm has a market capitalization of $834.06 million, a PE ratio of -1.87 and a beta of 0.83. The company has a fifty day moving average of $2.35 and a 200-day moving average of $2.46.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.04). The firm had revenue of $59.95 million for the quarter, compared to analysts' expectations of $67.14 million. Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. WealthTrust Axiom LLC lifted its stake in shares of Iovance Biotherapeutics by 80.0% in the 2nd quarter. WealthTrust Axiom LLC now owns 18,000 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 8,000 shares during the last quarter. Accredited Investors Inc. acquired a new stake in shares of Iovance Biotherapeutics in the 1st quarter valued at $33,000. Diversify Wealth Management LLC acquired a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at $34,000. Flputnam Investment Management Co. acquired a new stake in shares of Iovance Biotherapeutics in the 1st quarter valued at $37,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at $38,000. 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.

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