Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Consensus Rating of “Moderate Buy” by Brokerages

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $23.00.

Several equities research analysts have issued reports on IOVA shares. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Finally, Piper Sandler cut Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $19.00 to $10.00 in a research report on Monday, July 29th.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $9.82 on Friday. The firm has a market cap of $2.75 billion, a PE ratio of -5.46 and a beta of 0.62. The business’s 50 day simple moving average is $10.25 and its 200 day simple moving average is $9.90. Iovance Biotherapeutics has a 52-week low of $3.47 and a 52-week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $31.11 million for the quarter, compared to the consensus estimate of $24.59 million. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. The firm’s revenue was up 12969.7% compared to the same quarter last year. During the same period last year, the company earned ($0.47) earnings per share. As a group, equities research analysts predict that Iovance Biotherapeutics will post -1.26 EPS for the current year.

Institutional Trading of Iovance Biotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of IOVA. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Iovance Biotherapeutics by 31.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 2,624 shares during the last quarter. nVerses Capital LLC bought a new position in Iovance Biotherapeutics during the third quarter worth $148,000. Vontobel Holding Ltd. increased its holdings in shares of Iovance Biotherapeutics by 32.5% in the third quarter. Vontobel Holding Ltd. now owns 18,940 shares of the biotechnology company’s stock valued at $178,000 after purchasing an additional 4,647 shares during the last quarter. Creative Planning raised its position in shares of Iovance Biotherapeutics by 2.6% in the third quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock valued at $690,000 after purchasing an additional 1,896 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in shares of Iovance Biotherapeutics in the third quarter valued at about $89,000. 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.