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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $20.25.

Several brokerages have recently issued reports on IOVA. HC Wainwright reissued a "buy" rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Robert W. Baird decreased their price target on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group cut their price objective on Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Piper Sandler decreased their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a research report on Friday, February 28th. Finally, Truist Financial reduced their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC increased its position in shares of Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock worth $34,000 after purchasing an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Iovance Biotherapeutics in the fourth quarter valued at about $36,000. GF Fund Management CO. LTD. acquired a new stake in Iovance Biotherapeutics during the fourth quarter valued at approximately $47,000. One68 Global Capital LLC bought a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $74,000. Finally, Quarry LP acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $74,000. 77.03% of the stock is currently owned by institutional investors.

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Iovance Biotherapeutics Stock Performance

NASDAQ IOVA traded down $0.01 during mid-day trading on Tuesday, reaching $3.53. 4,973,498 shares of the stock were exchanged, compared to its average volume of 6,952,793. The stock has a market capitalization of $1.16 billion, a PE ratio of -2.37 and a beta of 0.93. Iovance Biotherapeutics has a 1-year low of $3.43 and a 1-year high of $15.90. The business's fifty day simple moving average is $5.18 and its 200 day simple moving average is $7.85.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). The business had revenue of $73.69 million for the quarter, compared to analysts' expectations of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. On average, analysts anticipate that Iovance Biotherapeutics will post -1.24 EPS 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.