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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) has received an average rating of "Moderate Buy" from the eight ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $23.00.

IOVA has been the topic of a number of recent research reports. StockNews.com raised shares of Iovance Biotherapeutics to a "sell" rating in a research note on Monday, August 12th. HC Wainwright restated a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Monday, August 12th. Finally, Piper Sandler cut Iovance Biotherapeutics from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $19.00 to $10.00 in a research note on Monday, July 29th.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA traded up $0.07 during midday trading on Friday, hitting $10.24. The stock had a trading volume of 8,881,331 shares, compared to its average volume of 7,240,450. The firm has a market cap of $2.87 billion, a P/E ratio of -5.69 and a beta of 0.62. Iovance Biotherapeutics has a fifty-two week low of $3.21 and a fifty-two week high of $18.33. The company's 50-day simple moving average is $10.27 and its 200 day simple moving average is $10.01.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.01. The firm had revenue of $31.11 million during the quarter, compared to analysts' expectations of $24.59 million. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The company's quarterly revenue was up 12969.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.47) EPS. Equities analysts expect that Iovance Biotherapeutics will post -1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 22,812,820 shares of the biotechnology company's stock valued at $185,468,000 after purchasing an additional 669,350 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Iovance Biotherapeutics by 42.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 407,429 shares of the biotechnology company's stock valued at $6,038,000 after buying an additional 121,395 shares during the period. Diversified Trust Co increased its position in shares of Iovance Biotherapeutics by 14.8% during the first quarter. Diversified Trust Co now owns 15,511 shares of the biotechnology company's stock worth $230,000 after acquiring an additional 1,999 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of Iovance Biotherapeutics during the first quarter worth $1,245,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Iovance Biotherapeutics during the first quarter worth $87,000. 77.03% of the stock is currently 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.