Iovance Biotherapeutics (NASDAQ:IOVA) Trading Up 7.8% – Time to Buy?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price was up 7.8% during mid-day trading on Monday . The stock traded as high as $9.28 and last traded at $9.2740. 6,415,573 shares were traded during trading, a decline of 58% from the average daily volume of 15,381,235 shares. The stock had previously closed at $8.60.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IOVA shares. Robert W. Baird set a $6.00 price target on Iovance Biotherapeutics in a research report on Friday, August 7th. Citigroup restated an “outperform” rating on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Citizens Jmp lifted their target price on Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. TD Cowen upped their price target on Iovance Biotherapeutics from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Finally, Barclays increased their price target on shares of Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.89.

Iovance Biotherapeutics Stock Performance

The company’s 50-day moving average price is $6.53 and its two-hundred day moving average price is $4.82. The stock has a market cap of $4.24 billion, a PE ratio of -12.82 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $99.31 million during the quarter, compared to analyst estimates of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The firm’s quarterly revenue was up 65.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.33) earnings per share. Equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Large investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC increased its stake in Iovance Biotherapeutics by 5.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 32,957 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 1,691 shares during the period. GTS Securities LLC increased its position in shares of Iovance Biotherapeutics by 44.6% in the second quarter. GTS Securities LLC now owns 14,461 shares of the biotechnology company’s stock valued at $60,000 after acquiring an additional 4,457 shares during the period. Orion Investment Co boosted its holdings in shares of Iovance Biotherapeutics by 0.3% during the fourth quarter. Orion Investment Co now owns 1,856,934 shares of the biotechnology company’s stock worth $5,069,000 after purchasing an additional 5,150 shares during the period. Flputnam Investment Management Co. increased its holdings in Iovance Biotherapeutics by 27.9% during the 4th quarter. Flputnam Investment Management Co. now owns 25,950 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 5,661 shares during the period. Finally, Mirador Capital Partners LP raised its position in Iovance Biotherapeutics by 0.7% during the 2nd quarter. Mirador Capital Partners LP now owns 1,080,288 shares of the biotechnology company’s stock valued at $4,494,000 after purchasing an additional 7,052 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. Its platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded in a manufacturing facility and returned to the patient to help recognize and attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.