Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 7.6% - What's Next?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) shares shot up 7.6% on Monday . The stock traded as high as $3.23 and last traded at $3.29. 1,892,668 shares traded hands during trading, a decline of 75% from the average session volume of 7,455,457 shares. The stock had previously closed at $3.06.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IOVA shares. Truist Financial decreased their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Chardan Capital decreased their price objective on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Robert W. Baird lowered their price objective 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. HC Wainwright reiterated a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Finally, Piper Sandler lowered their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.22.

Iovance Biotherapeutics Stock Performance

The business has a fifty day simple moving average of $3.73 and a 200-day simple moving average of $6.55. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -2.36 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting 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 business had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. On average, equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. AlphaQuest LLC increased its stake in shares of Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock valued at $34,000 after buying an additional 1,794 shares during the period. SBI Securities Co. Ltd. bought a new stake in Iovance Biotherapeutics in the fourth quarter valued at approximately $36,000. FNY Investment Advisers LLC bought a new position in Iovance Biotherapeutics during the 1st quarter worth approximately $39,000. GF Fund Management CO. LTD. bought a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $47,000. Finally, One68 Global Capital LLC acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $74,000. 77.03% of the stock is owned by institutional investors.

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.