Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) - Investment analysts at HC Wainwright issued their Q3 2024 earnings per share estimates for shares of Iovance Biotherapeutics in a note issued to investors on Tuesday, November 5th. HC Wainwright analyst J. Pantginis anticipates that the biotechnology company will post earnings of ($0.32) per share for the quarter. HC Wainwright has a "Buy" rating and a $32.00 price objective on the stock. The consensus estimate for Iovance Biotherapeutics' current full-year earnings is ($1.26) per share. HC Wainwright also issued estimates for Iovance Biotherapeutics' Q4 2024 earnings at ($0.28) EPS.
Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its earnings results 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. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The business had revenue of $31.11 million during the quarter, compared to the consensus estimate of $24.59 million. During the same period in the prior year, the company posted ($0.47) EPS. The business's quarterly revenue was up 12969.7% on a year-over-year basis.
IOVA has been the topic of several other research reports. UBS Group started coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a "buy" rating and a $17.00 target price on the stock. Piper Sandler cut shares of Iovance Biotherapeutics from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $19.00 to $10.00 in a research note on Monday, July 29th. Finally, StockNews.com raised shares of Iovance Biotherapeutics to a "sell" rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $22.33.
Check Out Our Latest Analysis on IOVA
Iovance Biotherapeutics Stock Performance
Shares of NASDAQ:IOVA traded down $1.51 during trading on Friday, reaching $10.77. The stock had a trading volume of 25,208,574 shares, compared to its average volume of 7,210,499. The business has a fifty day moving average price of $10.21 and a 200-day moving average price of $9.84. Iovance Biotherapeutics has a 1-year low of $3.76 and a 1-year high of $18.33. The stock has a market cap of $3.01 billion, a PE ratio of -6.28 and a beta of 0.60.
Institutional Trading of Iovance Biotherapeutics
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Curi RMB Capital LLC increased its position in shares of Iovance Biotherapeutics by 49.8% during the third quarter. Curi RMB Capital LLC now owns 108,637 shares of the biotechnology company's stock valued at $1,020,000 after acquiring an additional 36,117 shares during the last quarter. Saturna Capital Corp boosted its position in shares of Iovance Biotherapeutics by 7.0% during the 3rd quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company's stock worth $193,000 after purchasing an additional 1,353 shares during the period. Victory Capital Management Inc. increased its holdings in Iovance Biotherapeutics by 399.4% in the 3rd quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company's stock valued at $1,355,000 after purchasing an additional 115,387 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Iovance Biotherapeutics in the third quarter valued at approximately $242,000. Finally, Los Angeles Capital Management LLC lifted its stake in Iovance Biotherapeutics by 156.0% during the third quarter. Los Angeles Capital Management LLC now owns 61,759 shares of the biotechnology company's stock worth $580,000 after purchasing an additional 37,635 shares in the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.
About Iovance Biotherapeutics
(
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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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