Iovance Biotherapeutics (NASDAQ:IOVA) Trading Up 5.5% - Should You Buy?

Key Points

• Iovance Biotherapeutics shares rose 5.5% to about $10.75, with trading volume below its average daily level.
• Analyst sentiment is generally positive: eight analysts rate the stock a Buy, versus two Holds and one Sell, with an average price target of $10.56. Goldman Sachs initiated coverage with a Buy rating and a $15 target.
• The company exceeded quarterly expectations, reporting revenue of $99.31 million—up 65.7% year over year—and an adjusted loss of $0.11 per share versus the expected $0.13 loss. However, profitability remains weak, with a negative net margin of 89.11%.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) shot up 5.5% during mid-day trading on Thursday . The company traded as high as $10.66 and last traded at $10.7510. 5,916,749 shares changed hands during trading, a decline of 62% from the average session volume of 15,495,088 shares. The stock had previously closed at $10.19.

Analyst Ratings Changes

IOVA has been the topic of a number of research analyst reports. TD Cowen increased their target price on Iovance Biotherapeutics from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Monday, August 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. UBS Group increased 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. The Goldman Sachs Group began coverage on Iovance Biotherapeutics in a report on Thursday. They set a "buy" rating and a $15.00 price objective on the stock. Finally, Citizens Jmp upped their target price on Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $10.56.

Iovance Biotherapeutics Price Performance

The stock has a market capitalization of $4.86 billion, a P/E ratio of -14.68 and a beta of 0.83. The stock has a 50 day moving average price of $7.25 and a 200-day moving average price of $5.08.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The business had revenue of $99.31 million for the quarter, compared to analyst estimates of $87.83 million. During the same period last year, the company earned ($0.33) EPS. Iovance Biotherapeutics's revenue for the quarter was up 65.7% compared to the same quarter last year. Research analysts predict that Iovance Biotherapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in IOVA. BlackRock Inc. purchased a new position in shares of Iovance Biotherapeutics in the second quarter valued at about $153,744,000. Invenomic Capital Management LP boosted its holdings in shares of Iovance Biotherapeutics by 13.5% during the fourth quarter. Invenomic Capital Management LP now owns 11,959,505 shares of the biotechnology company's stock worth $32,649,000 after purchasing an additional 1,417,897 shares during the period. Palo Alto Investors LP bought a new stake in shares of Iovance Biotherapeutics in the second quarter worth about $22,032,229. Bank of America Corp DE bought a new stake in shares of Iovance Biotherapeutics in the second quarter worth about $20,773,000. Finally, Dimensional Fund Advisors LP increased its holdings in Iovance Biotherapeutics by 71.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,645,702 shares of the biotechnology company's stock valued at $9,282,000 after purchasing an additional 1,106,592 shares during the period. Hedge funds and other institutional investors own 77.03% of the company's stock.

About Iovance Biotherapeutics

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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