Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Rating) – Zacks Research increased their Q1 2023 EPS estimates for Iovance Biotherapeutics in a research note issued on Tuesday, March 14th. Zacks Research analyst S. Ganoria now forecasts that the biotechnology company will post earnings per share of ($1.46) for the quarter, up from their prior estimate of ($1.65). The consensus estimate for Iovance Biotherapeutics’ current full-year earnings is ($2.82) per share. Zacks Research also issued estimates for Iovance Biotherapeutics’ Q2 2023 earnings at ($0.84) EPS, Q3 2023 earnings at ($0.58) EPS, Q4 2023 earnings at ($0.57) EPS, Q1 2024 earnings at ($0.54) EPS, Q2 2024 earnings at ($0.48) EPS, Q3 2024 earnings at ($0.41) EPS, Q4 2024 earnings at ($0.35) EPS, FY2024 earnings at ($1.79) EPS and FY2025 earnings at ($1.19) EPS.
Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) last posted its earnings results on Tuesday, February 28th. The biotechnology company reported ($0.64) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.64). During the same quarter in the previous year, the business earned ($0.63) earnings per share.
Iovance Biotherapeutics Stock Performance
IOVA stock opened at $6.46 on Friday. The firm has a fifty day moving average price of $7.10 and a 200 day moving average price of $7.95. Iovance Biotherapeutics has a fifty-two week low of $5.42 and a fifty-two week high of $18.73. The firm has a market cap of $1.45 billion, a PE ratio of -2.60 and a beta of 0.24.
Hedge Funds Weigh In On Iovance Biotherapeutics
Hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC boosted its stake in shares of Iovance Biotherapeutics by 38.5% during the first quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 934 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Iovance Biotherapeutics during the first quarter valued at approximately $83,000. Royal Bank of Canada boosted its stake in Iovance Biotherapeutics by 54.5% in the third quarter. Royal Bank of Canada now owns 5,066 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 1,787 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Iovance Biotherapeutics in the first quarter valued at approximately $96,000. Finally, Advisory Services Network LLC acquired a new stake in Iovance Biotherapeutics in the first quarter valued at approximately $107,000. 96.78% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, Director Merrill A. Mcpeak bought 10,000 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were acquired at an average cost of $6.15 per share, for a total transaction of $61,500.00. Following the purchase, the director now directly owns 70,150 shares of the company’s stock, valued at $431,422.50. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 7.60% of the company’s stock.
Iovance Biotherapeutics Company Profile
Iovance Biotherapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of cell therapies as novel cancer immunotherapy products. Its lead product candidate, LN-144 for metastatic melanoma, is an autologous adoptive cell therapy utilizing tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients’ tumors.
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