Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Down 0.1%

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) were down 0.1% during trading on Wednesday . The stock traded as low as $7.72 and last traded at $7.72. Approximately 1,112,182 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 7,856,607 shares. The stock had previously closed at $7.73.

Wall Street Analyst Weigh In

IOVA has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, June 28th. Finally, JMP Securities reduced their price objective on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, June 20th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.45.

Iovance Biotherapeutics Stock Down 4.1 %

The company has a market cap of $2.07 billion, a PE ratio of -4.29 and a beta of 0.63. The stock’s 50 day simple moving average is $9.87 and its two-hundred day simple moving average is $10.85.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) 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 business had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.99 million. During the same quarter last year, the firm posted ($0.50) EPS. The business’s revenue for the quarter was up 71400.0% compared to the same quarter last year. Analysts forecast that Iovance Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Hedge funds have recently made changes to their positions in the business. Diversified Trust Co grew its holdings in Iovance Biotherapeutics by 12.3% during the 4th quarter. Diversified Trust Co now owns 13,512 shares of the biotechnology company’s stock valued at $110,000 after purchasing an additional 1,481 shares in the last quarter. Pale Fire Capital SE grew its holdings in Iovance Biotherapeutics by 12.7% during the 4th quarter. Pale Fire Capital SE now owns 17,024 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 1,924 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Iovance Biotherapeutics by 15.0% during 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 in the last quarter. American International Group Inc. grew its holdings in Iovance Biotherapeutics by 2.6% during the 1st quarter. American International Group Inc. now owns 116,951 shares of the biotechnology company’s stock valued at $1,733,000 after purchasing an additional 2,941 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in Iovance Biotherapeutics by 29.7% during the 4th quarter. Raymond James & Associates now owns 16,910 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 3,868 shares in the last quarter. Hedge funds and other institutional investors 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.