Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $23.00.

A number of research firms have commented on IOVA. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. 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. Finally, Piper Sandler cut shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $10.00 in a research note on Monday, July 29th.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several large investors have recently modified their holdings of the stock. ORG Partners LLC acquired a new stake in Iovance Biotherapeutics during the 2nd quarter worth about $32,000. Quest Partners LLC increased its holdings in shares of Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 4,629 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Iovance Biotherapeutics by 1,227.8% in the fourth quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 4,678 shares during the period. EverSource Wealth Advisors LLC bought a new position in Iovance Biotherapeutics in the 2nd quarter worth $58,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 7,781 shares during the last quarter. 77.03% of the stock is owned by institutional investors.

Iovance Biotherapeutics Trading Down 4.8 %

Shares of IOVA stock opened at $9.66 on Tuesday. Iovance Biotherapeutics has a 52 week low of $3.21 and a 52 week high of $18.33. The company has a market cap of $2.70 billion, a PE ratio of -5.37 and a beta of 0.63. The company’s fifty day simple moving average is $9.85 and its 200-day simple moving average is $10.60.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. The company had revenue of $31.11 million during the quarter, compared to analysts’ expectations of $24.59 million. During the same period in the prior year, the company posted ($0.47) EPS. The firm’s revenue for the quarter was up 12969.7% on a year-over-year basis. Equities research analysts expect that Iovance Biotherapeutics will post -1.26 EPS for the current fiscal 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.