Iovance Biotherapeutics (NASDAQ:IOVA) Trading Up 1.7%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price shot up 1.7% on Monday . The stock traded as high as $8.20 and last traded at $8.16. 1,591,622 shares were traded during trading, a decline of 80% from the average session volume of 7,902,884 shares. The stock had previously closed at $8.02.

Analyst Ratings Changes

Several research firms have recently weighed in on IOVA. JMP Securities cut 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. Piper Sandler lifted their price objective on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Friday. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.45.

Iovance Biotherapeutics Stock Performance

The stock has a market cap of $2.24 billion, a P/E ratio of -4.53 and a beta of 0.63. The company has a 50 day simple moving average of $10.02 and a 200 day simple moving average of $10.84.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.03. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The firm had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $1.99 million. During the same quarter in the previous year, the business posted ($0.50) EPS. The business’s quarterly revenue was up 71400.0% compared to the same quarter last year. As a group, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.34 earnings per share for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its stake 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 in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Iovance Biotherapeutics during the 1st quarter worth approximately $87,000. Annandale Capital LLC acquired a new position in shares of Iovance Biotherapeutics during the 3rd quarter worth approximately $32,000. Nisa Investment Advisors LLC increased its holdings in shares of Iovance Biotherapeutics by 284.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 5,577 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Iovance Biotherapeutics by 256.6% during the 4th quarter. Signaturefd LLC now owns 8,723 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 6,277 shares during the last quarter. 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.