Analysts Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Price Target at $23.00

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat 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 brokers that have updated their coverage on the stock in the last year is $23.00.

IOVA has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Finally, Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $19.00 to $10.00 in a report on Monday, July 29th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC bought a new position in Iovance Biotherapeutics during the third quarter valued at $148,000. Vontobel Holding Ltd. raised its position in shares of Iovance Biotherapeutics by 32.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 18,940 shares of the biotechnology company’s stock valued at $178,000 after buying an additional 4,647 shares in the last quarter. Creative Planning lifted its holdings in shares of Iovance Biotherapeutics by 2.6% in the 3rd quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock valued at $690,000 after acquiring an additional 1,896 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Iovance Biotherapeutics in the third quarter worth about $89,000. Finally, Shaker Investments LLC OH increased its stake in Iovance Biotherapeutics by 27.7% during the third quarter. Shaker Investments LLC OH now owns 100,712 shares of the biotechnology company’s stock worth $946,000 after acquiring an additional 21,859 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Price Performance

IOVA opened at $9.92 on Friday. The firm has a market cap of $2.78 billion, a P/E ratio of -5.51 and a beta of 0.62. Iovance Biotherapeutics has a 1-year low of $3.27 and a 1-year high of $18.33. The company has a 50 day simple moving average of $10.27 and a two-hundred day simple moving average of $9.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The business had revenue of $31.11 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 12969.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.47) EPS. Equities analysts anticipate that Iovance Biotherapeutics will post -1.26 earnings per share for the current year.

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.