Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Average Rating of "Moderate Buy" by Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $22.33.

A number of equities analysts have commented on IOVA shares. Piper Sandler lowered shares of Iovance Biotherapeutics from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $19.00 to $10.00 in a report on Monday, July 29th. HC Wainwright restated a "buy" rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. UBS Group began coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $17.00 price objective on the stock. Finally, StockNews.com upgraded Iovance Biotherapeutics to a "sell" rating in a research note on Monday, August 12th.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently added to or reduced their stakes in IOVA. Oppenheimer & Co. Inc. bought a new stake in shares of Iovance Biotherapeutics during the 1st quarter valued at about $246,000. Sei Investments Co. grew its holdings in shares of Iovance Biotherapeutics by 33.9% during the first quarter. Sei Investments Co. now owns 333,148 shares of the biotechnology company's stock valued at $4,937,000 after purchasing an additional 84,382 shares during the last quarter. US Bancorp DE raised its position in shares of Iovance Biotherapeutics by 113.8% during the 1st quarter. US Bancorp DE now owns 31,557 shares of the biotechnology company's stock worth $468,000 after purchasing an additional 16,800 shares during the period. ProShare Advisors LLC raised its position in shares of Iovance Biotherapeutics by 14.5% during the 1st quarter. ProShare Advisors LLC now owns 62,210 shares of the biotechnology company's stock worth $922,000 after purchasing an additional 7,891 shares during the period. Finally, Vanguard Group Inc. boosted its position in Iovance Biotherapeutics by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company's stock valued at $369,245,000 after purchasing an additional 2,102,480 shares during the period. Institutional investors and hedge funds own 77.03% of the company's stock.

Iovance Biotherapeutics Trading Down 7.1 %

NASDAQ:IOVA traded down $0.69 during mid-day trading on Wednesday, hitting $9.00. The company had a trading volume of 9,315,507 shares, compared to its average volume of 7,245,898. The business has a fifty day simple moving average of $10.12 and a 200-day simple moving average of $9.78. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -6.04 and a beta of 0.60. Iovance Biotherapeutics has a 1 year low of $4.29 and a 1 year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.03. The firm had revenue of $58.56 million during the quarter, compared to analysts' expectations of $53.54 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. During the same quarter in the prior year, the business earned ($0.46) EPS. As a group, research analysts anticipate that Iovance Biotherapeutics will post -1.25 earnings per share for the current year.

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.