Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 5.7% - Should You Buy?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) shares rose 5.7% during mid-day trading on Thursday . The company traded as high as $9.90 and last traded at $9.90. Approximately 3,724,556 shares were traded during trading, a decline of 48% from the average daily volume of 7,211,640 shares. The stock had previously closed at $9.37.

Analyst Ratings Changes

IOVA has been the topic of a number of research reports. Piper Sandler cut Iovance Biotherapeutics from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $19.00 to $10.00 in a research report on Monday, July 29th. JMP Securities cut their price target on Iovance Biotherapeutics from $25.00 to $23.00 and set a "market outperform" rating on the stock in a research note on Thursday, June 20th. HC Wainwright reaffirmed a "buy" rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. Finally, StockNews.com raised Iovance Biotherapeutics to a "sell" rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.00.

Iovance Biotherapeutics Stock Up 8.5 %

The stock has a market cap of $2.85 billion, a PE ratio of -5.65 and a beta of 0.62. The firm has a 50-day simple moving average of $10.22 and a 200-day simple moving average of $10.04.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.01. The company had revenue of $31.11 million for 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%. Iovance Biotherapeutics's quarterly revenue was up 12969.7% on a year-over-year basis. During the same period last year, the firm earned ($0.47) earnings per share. On average, research analysts expect that Iovance Biotherapeutics, Inc. will post -1.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IOVA. Perceptive Advisors LLC increased its holdings in Iovance Biotherapeutics by 34.6% during the second quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company's stock valued at $207,984,000 after buying an additional 6,660,151 shares during the period. Vanguard Group Inc. lifted its position in Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company's stock valued at $369,245,000 after buying an additional 2,102,480 shares during the last quarter. Avoro Capital Advisors LLC grew its stake in shares of Iovance Biotherapeutics by 74.6% in the first quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company's stock valued at $173,394,000 after buying an additional 5,000,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Iovance Biotherapeutics by 60.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company's stock valued at $78,071,000 after purchasing an additional 1,991,262 shares during the period. Finally, Long Focus Capital Management LLC lifted its holdings in Iovance Biotherapeutics by 195.1% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company's stock worth $33,139,000 after buying an additional 2,731,688 shares during the last quarter. 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.

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