Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Up 12.5% – What’s Next?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price rose 12.5% on Thursday . The company traded as high as $4.22 and last traded at $4.2650. Approximately 3,337,288 shares traded hands during trading, a decline of 78% from the average daily volume of 14,918,423 shares. The stock had previously closed at $3.79.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial upgraded shares of Iovance Biotherapeutics to a “hold” rating in a research report on Wednesday, March 25th. Barclays boosted their price objective on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Monday, April 6th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $2.00 price objective on shares of Iovance Biotherapeutics in a research note on Thursday, February 5th. Finally, Chardan Capital reduced their price objective on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.43.

Iovance Biotherapeutics Price Performance

The business’s 50 day moving average is $3.67 and its two-hundred day moving average is $3.15. The firm has a market capitalization of $1.94 billion, a PE ratio of -4.65 and a beta of 0.74.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.19). The business had revenue of $71.43 million for the quarter, compared to the consensus estimate of $77.84 million. Iovance Biotherapeutics had a negative net margin of 123.92% and a negative return on equity of 50.17%. Iovance Biotherapeutics’s quarterly revenue was up 44.9% on a year-over-year basis. During the same period last year, the firm posted ($0.36) earnings per share. Analysts expect that Iovance Biotherapeutics, Inc. will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of IOVA. Royal Bank of Canada raised its stake in Iovance Biotherapeutics by 161.2% in the first quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company’s stock valued at $1,740,000 after purchasing an additional 322,680 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Iovance Biotherapeutics by 279.0% in the 1st quarter. AQR Capital Management LLC now owns 59,540 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 43,829 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Iovance Biotherapeutics by 30.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock valued at $18,554,000 after purchasing an additional 1,301,846 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Iovance Biotherapeutics by 202.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock valued at $19,239,000 after purchasing an additional 3,869,617 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Iovance Biotherapeutics by 112.1% in the second quarter. Envestnet Asset Management Inc. now owns 47,466 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 25,083 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.