Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $24.64 Average PT from Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have received a consensus recommendation of "Buy" from the ten ratings firms that are currently covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have covered the stock in the last year is $24.64.

A number of equities analysts have issued reports on IOVA shares. Piper Sandler boosted their price objective on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Thursday, March 14th. JMP Securities lifted their target price on shares of Iovance Biotherapeutics from $18.00 to $25.00 and gave the company a "market outperform" rating in a research note on Tuesday, February 20th. Barclays lifted their target price on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Thursday, February 29th. StockNews.com raised shares of Iovance Biotherapeutics to a "sell" rating in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, February 29th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Iovance Biotherapeutics by 9.2% during the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company's stock valued at $369,245,000 after purchasing an additional 2,102,480 shares during the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of Iovance Biotherapeutics by 74.6% during the first quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company's stock valued at $173,394,000 after purchasing an additional 5,000,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Iovance Biotherapeutics by 60.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company's stock valued at $78,071,000 after purchasing an additional 1,991,262 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in Iovance Biotherapeutics by 13.8% during the third quarter. Artisan Partners Limited Partnership now owns 5,036,479 shares of the biotechnology company's stock valued at $22,916,000 after buying an additional 609,738 shares during the last quarter. Finally, MPM Bioimpact LLC increased its holdings in Iovance Biotherapeutics by 11.4% during the third quarter. MPM Bioimpact LLC now owns 3,287,397 shares of the biotechnology company's stock valued at $14,958,000 after buying an additional 337,279 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Trading Up 0.1 %

Shares of IOVA stock traded up $0.01 during mid-day trading on Wednesday, reaching $10.33. The stock had a trading volume of 5,271,897 shares, compared to its average volume of 7,960,216. The stock's 50-day moving average price is $12.73 and its two-hundred day moving average price is $10.22. Iovance Biotherapeutics has a 52-week low of $3.21 and a 52-week high of $18.33. The firm has a market capitalization of $2.89 billion, a PE ratio of -5.74 and a beta of 0.66.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.03. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The firm had revenue of $0.72 million for the quarter, compared to analysts' expectations of $1.99 million. During the same quarter in the previous year, the company earned ($0.50) earnings per share. The company's revenue for the quarter was up 71400.0% compared to the same quarter last year. On average, equities research analysts forecast that Iovance Biotherapeutics will post -1.37 earnings per share for the current year.

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.