Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Free Report) – Stock analysts at Chardan Capital lifted their FY2024 EPS estimates for shares of Iovance Biotherapeutics in a research note issued to investors on Sunday, August 11th. Chardan Capital analyst Y. Livshits now forecasts that the biotechnology company will post earnings of ($1.01) per share for the year, up from their previous forecast of ($1.33). The consensus estimate for Iovance Biotherapeutics’ current full-year earnings is ($1.39) per share.
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last posted its quarterly earnings results 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 23,615.70% and a negative return on equity of 71.45%. The firm had revenue of $31.11 million for the quarter, compared to analyst estimates of $24.59 million. During the same period in the previous year, the business posted ($0.47) earnings per share. Iovance Biotherapeutics’s quarterly revenue was up 12969.7% on a year-over-year basis.
Check Out Our Latest Analysis on IOVA
Iovance Biotherapeutics Price Performance
IOVA opened at $10.67 on Wednesday. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -5.93 and a beta of 0.63. The company’s 50 day simple moving average is $8.37 and its two-hundred day simple moving average is $10.88. Iovance Biotherapeutics has a 1-year low of $3.21 and a 1-year high of $18.33.
Hedge Funds Weigh In On Iovance Biotherapeutics
A number of hedge funds have recently made changes to their positions in the stock. ORG Partners LLC purchased a new stake in Iovance Biotherapeutics in the second quarter valued at approximately $32,000. Quest Partners LLC lifted its stake in 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 acquiring an additional 4,629 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in 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 acquiring an additional 4,678 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Iovance Biotherapeutics during the 1st quarter valued at about $87,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Iovance Biotherapeutics in the 2nd quarter valued at about $58,000. 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.
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