Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Short Interest Update

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 54,630,000 shares, an increase of 9.3% from the May 31st total of 49,960,000 shares. Currently, 24.4% of the shares of the company are short sold. Based on an average trading volume of 5,860,000 shares, the days-to-cover ratio is currently 9.3 days.

Institutional Trading of Iovance Biotherapeutics

Several institutional investors have recently made changes to their positions in the business. Diversified Trust Co grew its holdings in Iovance Biotherapeutics by 12.3% during the 4th quarter. Diversified Trust Co now owns 13,512 shares of the biotechnology company's stock valued at $110,000 after buying an additional 1,481 shares in the last quarter. Pale Fire Capital SE grew its holdings in Iovance Biotherapeutics by 12.7% during the 4th quarter. Pale Fire Capital SE now owns 17,024 shares of the biotechnology company's stock valued at $138,000 after buying an additional 1,924 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Iovance Biotherapeutics by 15.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company's stock valued at $157,000 after buying an additional 2,688 shares in the last quarter. American International Group Inc. grew its holdings in Iovance Biotherapeutics by 2.6% during the 1st quarter. American International Group Inc. now owns 116,951 shares of the biotechnology company's stock valued at $1,733,000 after buying an additional 2,941 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in Iovance Biotherapeutics by 29.7% during the 4th quarter. Raymond James & Associates now owns 16,910 shares of the biotechnology company's stock valued at $137,000 after buying an additional 3,868 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA traded down $0.33 during trading on Tuesday, hitting $7.73. The company had a trading volume of 4,860,656 shares, compared to its average volume of 7,909,980. The stock has a 50 day simple moving average of $9.87 and a 200 day simple moving average of $10.85. Iovance Biotherapeutics has a 12 month low of $3.21 and a 12 month high of $18.33. The firm has a market capitalization of $2.16 billion, a P/E ratio of -4.29 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.03. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The firm had revenue of $0.72 million during the quarter, compared to analysts' expectations of $1.99 million. During the same quarter last year, the business posted ($0.50) earnings per share. The firm's revenue was up 71400.0% on a year-over-year basis. As a group, analysts predict that Iovance Biotherapeutics will post -1.34 EPS for the current year.

Analyst Ratings Changes

IOVA has been the topic of a number of recent research reports. Piper Sandler increased their target price on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an "overweight" rating in a report on Thursday, March 14th. JMP Securities lowered their target price on Iovance Biotherapeutics from $25.00 to $23.00 and set a "market outperform" rating on the stock in a report on Thursday, June 20th. Finally, HC Wainwright reissued a "buy" rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $24.45.

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.