Iovance Biotherapeutics (NASDAQ:IOVA) Trading 1.7% Higher

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) shares were up 1.7% on Monday . The stock traded as high as $8.20 and last traded at $8.16. Approximately 1,591,622 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 7,902,884 shares. The stock had previously closed at $8.02.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. JMP Securities dropped their price target on shares of 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. Piper Sandler increased their target price on Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.45.

Iovance Biotherapeutics Price Performance

The stock has a 50-day moving average of $9.87 and a 200-day moving average of $10.85.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. The business had revenue of $0.72 million for the quarter, compared to analyst estimates of $1.99 million. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The company’s quarterly revenue was up 71400.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.50) EPS. As a group, analysts expect that Iovance Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently made changes to their positions in the stock. Annandale Capital LLC purchased a new position in Iovance Biotherapeutics in the third quarter worth $32,000. Quadrant Capital Group LLC lifted its stake in Iovance Biotherapeutics by 1,227.8% during the fourth quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 4,678 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Iovance Biotherapeutics by 284.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 5,577 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Iovance Biotherapeutics by 256.6% in the 4th quarter. Signaturefd LLC now owns 8,723 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 6,277 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Iovance Biotherapeutics during the 1st quarter valued at about $87,000. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

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.