Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 8.3% – Should You Buy?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price was up 8.3% on Tuesday . The stock traded as high as $2.52 and last traded at $2.5660. Approximately 3,351,716 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 13,767,932 shares. The stock had previously closed at $2.37.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Chardan Capital dropped their price target on Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Wells Fargo & Company reduced their price target on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. The Goldman Sachs Group downgraded shares of Iovance Biotherapeutics from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 15th. Zacks Research raised shares of Iovance Biotherapeutics to a “hold” rating in a report on Tuesday, August 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Iovance Biotherapeutics in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.50.

Iovance Biotherapeutics Trading Up 10.8%

The business has a 50 day moving average of $2.19 and a 200-day moving average of $2.27. The stock has a market cap of $1.04 billion, a PE ratio of -2.17 and a beta of 0.87.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. Iovance Biotherapeutics had a negative return on equity of 55.24% and a negative net margin of 158.78%.The firm had revenue of $67.46 million during the quarter, compared to analysts’ expectations of $76.20 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Hedge funds have recently made changes to their positions in the company. WealthTrust Axiom LLC acquired a new stake in shares of Iovance Biotherapeutics during the first quarter worth approximately $33,000. Accredited Investors Inc. bought a new position in shares of Iovance Biotherapeutics in the first quarter worth $33,000. Flputnam Investment Management Co. bought a new stake in Iovance Biotherapeutics during the first quarter worth approximately $37,000. Gould Asset Management LLC CA acquired a new position in shares of Iovance Biotherapeutics in the 1st quarter worth approximately $39,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of Iovance Biotherapeutics in the 3rd quarter worth $26,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

About Iovance Biotherapeutics

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.