Iovance Biotherapeutics’ (IOVA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a report issued on Monday morning, Benzinga reports. HC Wainwright currently has a $32.00 target price on the biotechnology company’s stock.

IOVA has been the topic of a number of other research reports. Piper Sandler lowered Iovance Biotherapeutics from an overweight rating to a neutral rating and lowered their price objective for the company from $19.00 to $10.00 in a report on Monday, July 29th. StockNews.com raised Iovance Biotherapeutics to a sell rating in a report on Friday, July 12th. Finally, JMP Securities lowered their price objective on Iovance Biotherapeutics from $25.00 to $23.00 and set a market outperform rating on the stock in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of Moderate Buy and an average target price of $24.00.

Iovance Biotherapeutics Trading Down 5.9 %

Shares of IOVA opened at $10.11 on Monday. Iovance Biotherapeutics has a twelve month low of $3.21 and a twelve month high of $18.33. The stock’s 50 day moving average is $8.37 and its two-hundred day moving average is $10.88. The firm has a market capitalization of $2.83 billion, a PE ratio of -5.62 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The company had revenue of $31.11 million for the quarter, compared to analyst estimates of $24.59 million. During the same quarter in the previous year, the company earned ($0.47) EPS. The firm’s revenue for the quarter was up 12969.7% compared to the same quarter last year. On average, sell-side analysts predict that Iovance Biotherapeutics will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. ORG Partners LLC acquired a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $32,000. Quest Partners LLC raised its position in shares of Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 4,629 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Iovance Biotherapeutics by 1,227.8% during the 4th quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 4,678 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Iovance Biotherapeutics during the 1st quarter worth approximately $87,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Iovance Biotherapeutics in the 2nd quarter valued at $58,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.