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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $20.25.

IOVA has been the subject of several research analyst reports. Robert W. Baird decreased their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Piper Sandler reduced their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Chardan Capital dropped their price target on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Truist Financial cut their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, The Goldman Sachs Group lowered their price objective on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, March 3rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IOVA. AlphaQuest LLC boosted its stake in shares of Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Iovance Biotherapeutics during the fourth quarter worth $36,000. GF Fund Management CO. LTD. purchased a new stake in Iovance Biotherapeutics during the fourth quarter worth $47,000. One68 Global Capital LLC acquired a new stake in Iovance Biotherapeutics in the fourth quarter valued at $74,000. Finally, Quarry LP acquired a new stake in Iovance Biotherapeutics in the fourth quarter valued at $74,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Trading Up 7.8 %

Shares of NASDAQ:IOVA opened at $3.30 on Friday. The company has a market cap of $1.08 billion, a PE ratio of -2.21 and a beta of 1.05. The company’s 50 day moving average is $4.20 and its two-hundred day moving average is $7.00. Iovance Biotherapeutics has a 52 week low of $2.70 and a 52 week high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). The firm had revenue of $73.69 million for the quarter, compared to analyst estimates of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. As a group, equities research analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current year.

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.