Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 7.8% – Here’s Why

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price was up 7.8% on Monday . The company traded as high as $2.44 and last traded at $2.4150. Approximately 1,790,923 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 13,764,270 shares. The stock had previously closed at $2.24.

Analysts Set New Price Targets

IOVA has been the topic of several research analyst reports. Barclays lifted their price objective on Iovance Biotherapeutics from $4.00 to $9.00 and gave the stock an “overweight” rating in a report on Monday. Wells Fargo & Company lowered their price target on Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research report on Wednesday, October 8th. Chardan Capital decreased their price objective on Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Finally, Zacks Research raised shares of Iovance Biotherapeutics to a “hold” rating in a research note on Tuesday, August 12th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.00.

Iovance Biotherapeutics Stock Performance

The business has a 50 day simple moving average of $2.21 and a 200-day simple moving average of $2.20. The firm has a market capitalization of $986.47 million, a price-to-earnings ratio of -2.07 and a beta of 0.87.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. Iovance Biotherapeutics had a negative net margin of 158.78% and a negative return on equity of 55.24%. The firm had revenue of $67.46 million for the quarter, compared to analysts’ expectations of $76.20 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Equities analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. lifted its holdings in Iovance Biotherapeutics by 1.4% in the second quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company’s stock valued at $557,000 after acquiring an additional 4,618 shares during the last quarter. R Squared Ltd raised its position in Iovance Biotherapeutics by 41.4% in the third quarter. R Squared Ltd now owns 16,043 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 4,700 shares during the period. Avantax Advisory Services Inc. raised its position in Iovance Biotherapeutics by 39.0% in the first quarter. Avantax Advisory Services Inc. now owns 18,560 shares of the biotechnology company’s stock valued at $62,000 after purchasing an additional 5,205 shares during the period. Flputnam Investment Management Co. lifted its stake in shares of Iovance Biotherapeutics by 35.4% in the 3rd quarter. Flputnam Investment Management Co. now owns 20,289 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 5,300 shares during the last quarter. Finally, GRIMES & Co WEALTH MANAGEMENT LLC grew its holdings in shares of Iovance Biotherapeutics by 14.6% during the 3rd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 43,345 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 5,506 shares during the period. Institutional investors and hedge funds 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.