Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $24.00 Average PT from Analysts

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been given a consensus recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $24.00.

IOVA has been the subject of several research analyst reports. JMP Securities reduced their target price on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, June 20th. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $19.00 to $10.00 in a report on Monday, July 29th. Finally, HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Monday, August 12th.

Iovance Biotherapeutics Price Performance

IOVA opened at $10.85 on Friday. The stock has a market cap of $3.04 billion, a P/E ratio of -6.03 and a beta of 0.63. The firm has a fifty day moving average price of $9.26 and a 200 day moving average price of $11.17. Iovance Biotherapeutics has a 1 year low of $3.21 and a 1 year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. The business had revenue of $31.11 million during the quarter, compared to the consensus estimate of $24.59 million. During the same quarter in the prior year, the firm posted ($0.47) earnings per share. The company’s revenue was up 12969.7% compared to the same quarter last year. Equities analysts expect that Iovance Biotherapeutics will post -1.26 EPS for the current year.

Institutional Trading of Iovance Biotherapeutics

Hedge funds have recently bought and sold shares of the business. ORG Partners LLC purchased a new stake in Iovance Biotherapeutics in the 2nd quarter valued at $32,000. Quest Partners LLC increased its position in Iovance Biotherapeutics by 1,237.7% during the second 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 increased its position in Iovance Biotherapeutics by 1,227.8% during the fourth 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 stake in Iovance Biotherapeutics during the first quarter worth about $87,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in Iovance Biotherapeutics during the second quarter worth about $58,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

About Iovance Biotherapeutics

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.