Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) dropped 8% during trading on Monday . The company traded as low as $3.19 and last traded at $3.28. Approximately 2,248,522 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 7,107,324 shares. The stock had previously closed at $3.56.
Wall Street Analyst Weigh In
IOVA has been the subject of a number of analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Truist Financial dropped their target price on Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Piper Sandler decreased their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a research note on Friday, February 28th. Robert W. Baird dropped their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Finally, Chardan Capital cut their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating for the company in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Iovance Biotherapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.25.
View Our Latest Analysis on Iovance Biotherapeutics
Iovance Biotherapeutics Trading Down 7.7 %
The business has a 50 day moving average of $4.68 and a two-hundred day moving average of $7.38. The firm has a market cap of $983.63 million, a P/E ratio of -2.01 and a beta of 1.05.
Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $73.69 million during the quarter, compared to analysts' expectations of $72.17 million. On average, sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.
Hedge Funds Weigh In On Iovance Biotherapeutics
Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in Iovance Biotherapeutics by 79.2% in the 3rd quarter. FMR LLC now owns 82,662 shares of the biotechnology company's stock valued at $776,000 after purchasing an additional 36,526 shares during the period. Captrust Financial Advisors grew its position in Iovance Biotherapeutics by 95.0% during the third quarter. Captrust Financial Advisors now owns 49,606 shares of the biotechnology company's stock worth $466,000 after buying an additional 24,171 shares in the last quarter. Verition Fund Management LLC bought a new position in Iovance Biotherapeutics during the 3rd quarter worth $222,000. Erste Asset Management GmbH acquired a new position in Iovance Biotherapeutics in the 3rd quarter valued at $327,000. Finally, Centiva Capital LP acquired a new stake in shares of Iovance Biotherapeutics during the 3rd quarter worth $156,000. Institutional investors and hedge funds own 77.03% of the company's stock.
About Iovance Biotherapeutics
(
Get Free Report)
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.
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