Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Up 7.8% - What's Next?

Key Points

• Iovance Biotherapeutics shares rose 7.8% to about $9.27, with trading volume below the stock’s average daily volume.
• Analyst sentiment is mixed: seven analysts rate the stock a Buy, two rate it Hold, and two rate it Sell. The consensus rating is Hold, with an average price target of $8.89, although several firms recently raised their targets.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.11 per share versus the $0.13 estimate and revenue of $198.63 million versus an $87.83 million forecast. Revenue increased 65.7% year over year, though profitability remained negative.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) rose 7.8% during trading on Monday . The company traded as high as $9.28 and last traded at $9.2740. 6,415,573 shares traded hands during trading, a decline of 58% from the average session volume of 15,381,235 shares. The stock had previously closed at $8.60.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Mizuho lifted their target price on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Tuesday, August 18th. UBS Group raised their price objective on Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a "neutral" rating in a research report on Thursday, August 20th. Robert W. Baird set a $6.00 price target on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Finally, Citigroup reissued an "outperform" rating on shares of Iovance Biotherapeutics in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $8.89.

Iovance Biotherapeutics Trading Up 7.4%

The firm has a 50 day simple moving average of $6.33 and a 200 day simple moving average of $4.74. The firm has a market capitalization of $4.18 billion, a PE ratio of -12.65 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $198.63 million during the quarter, compared to the consensus estimate of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. Iovance Biotherapeutics's quarterly revenue was up 65.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.33) EPS. Research analysts forecast that Iovance Biotherapeutics, Inc. will post -0.49 earnings per share for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several large investors have recently bought and sold shares of IOVA. Granite Investment Partners LLC purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter worth about $29,000. Motley Fool Asset Management LLC purchased a new stake in Iovance Biotherapeutics in the fourth quarter valued at $29,000. M&T Bank Corp acquired a new stake in Iovance Biotherapeutics during the fourth quarter worth about $31,000. KBC Group NV acquired a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at $34,000. Finally, Diversify Wealth Management LLC purchased a new stake in Iovance Biotherapeutics during the second quarter worth $34,000. Institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. Its platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient's tumor, expanded in a manufacturing facility and returned to the patient to help recognize and attack cancer cells.

The company's lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.

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