Iovance Biotherapeutics (NASDAQ:IOVA) Trading Up 4.5% - What's Next?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) traded up 4.5% during trading on Wednesday . The stock traded as high as $3.32 and last traded at $3.40. 517,625 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 7,132,940 shares. The stock had previously closed at $3.25.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial decreased their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group decreased their price target on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Piper Sandler dropped their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, February 28th. Chardan Capital lowered their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, HC Wainwright reissued a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.25.

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Iovance Biotherapeutics Trading Down 2.5 %

The business's fifty day moving average price is $4.61 and its 200-day moving average price is $7.29. The company has a market capitalization of $959.04 million, a P/E ratio of -1.96 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The company had revenue of $73.69 million for the quarter, compared to analysts' expectations of $72.17 million. As a group, equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Iovance Biotherapeutics in the fourth quarter valued at approximately $515,000. Jennison Associates LLC purchased a new stake in Iovance Biotherapeutics during the 4th quarter valued at $493,000. Barclays PLC grew its holdings in Iovance Biotherapeutics by 118.8% in the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company's stock worth $5,677,000 after acquiring an additional 328,284 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Iovance Biotherapeutics by 59.0% in the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock valued at $37,872,000 after acquiring an additional 1,496,941 shares during the period. Finally, Banque Pictet & Cie SA boosted its holdings in shares of Iovance Biotherapeutics by 17.0% during the fourth quarter. Banque Pictet & Cie SA now owns 376,591 shares of the biotechnology company's stock worth $2,787,000 after purchasing an additional 54,832 shares during the period. 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.