Iovance Biotherapeutics (NASDAQ:IOVA) Given “Buy” Rating at HC Wainwright

Iovance Biotherapeutics (NASDAQ:IOVA)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $32.00 price objective on the biotechnology company’s stock.

Separately, Piper Sandler cut their price objective on shares of Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Iovance Biotherapeutics has an average rating of “Moderate Buy” and an average price target of $21.07.

Iovance Biotherapeutics Price Performance

IOVA stock opened at $5.26 on Friday. Iovance Biotherapeutics has a 1 year low of $5.05 and a 1 year high of $18.33. The firm has a market capitalization of $1.60 billion, a PE ratio of -3.53 and a beta of 0.53. The business has a 50 day simple moving average of $6.27 and a 200-day simple moving average of $8.62.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. On average, equities research analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IOVA. AlphaQuest LLC raised its holdings in shares of Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 1,794 shares during the period. SBI Securities Co. Ltd. acquired a new position in Iovance Biotherapeutics in the 4th quarter valued at about $36,000. GF Fund Management CO. LTD. purchased a new stake in Iovance Biotherapeutics during the fourth quarter worth about $47,000. One68 Global Capital LLC acquired a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth about $74,000. Finally, Quarry LP acquired a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth about $74,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

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.