Brokers Offer Predictions for Iovance Biotherapeutics, Inc.'s FY2024 Earnings (NASDAQ:IOVA)

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) - Zacks Research decreased their FY2024 earnings per share estimates for Iovance Biotherapeutics in a report released on Monday, April 15th. Zacks Research analyst S. Ganoria now anticipates that the biotechnology company will post earnings per share of ($1.57) for the year, down from their prior estimate of ($1.56). The consensus estimate for Iovance Biotherapeutics' current full-year earnings is ($1.40) per share.

A number of other research analysts also recently commented on IOVA. Wells Fargo & Company increased their target price on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, March 1st. Truist Financial reaffirmed a "buy" rating and set a $17.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, December 27th. HC Wainwright reaffirmed a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Thursday, February 29th. Chardan Capital increased their target price on Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, February 20th. Finally, StockNews.com raised Iovance Biotherapeutics to a "sell" rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company's stock. According to MarketBeat, Iovance Biotherapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.64.

Iovance Biotherapeutics Price Performance

IOVA traded down $0.12 on Wednesday, reaching $11.80. The company's stock had a trading volume of 3,137,630 shares, compared to its average volume of 8,879,891. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -6.28 and a beta of 0.62. Iovance Biotherapeutics has a 1 year low of $3.21 and a 1 year high of $18.33. The business's 50 day moving average is $13.77 and its 200 day moving average is $8.84.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.01). The company had revenue of $0.48 million during the quarter, compared to analysts' expectations of $1.44 million. During the same period in the prior year, the company earned ($0.64) earnings per share.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. lifted its stake in Iovance Biotherapeutics by 42.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 407,429 shares of the biotechnology company's stock valued at $6,038,000 after buying an additional 121,395 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Iovance Biotherapeutics by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 22,812,820 shares of the biotechnology company's stock valued at $185,468,000 after purchasing an additional 669,350 shares during the period. Wellington Management Group LLP increased its holdings in shares of Iovance Biotherapeutics by 52.7% in the 4th quarter. Wellington Management Group LLP now owns 155,145 shares of the biotechnology company's stock valued at $1,261,000 after purchasing an additional 53,572 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of Iovance Biotherapeutics by 15.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company's stock valued at $157,000 after purchasing an additional 2,688 shares during the period. Finally, Palo Alto Investors LP acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at about $17,128,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Merrill A. Mcpeak purchased 250,000 shares of the business's stock in a transaction on Tuesday, February 20th. The stock was bought at an average cost of $9.15 per share, with a total value of $2,287,500.00. Following the acquisition, the director now owns 320,150 shares of the company's stock, valued at $2,929,372.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.40% of the stock is owned by corporate insiders.

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.