Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Average Rating of “Moderate Buy” by Brokerages

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $18.22.

Several analysts recently commented on IOVA shares. Truist Financial cut their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Robert W. Baird reduced their price target on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Piper Sandler dropped their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group cut their price target on Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, February 28th.

Iovance Biotherapeutics Stock Performance

IOVA opened at $3.11 on Wednesday. The company’s 50-day simple moving average is $3.45 and its two-hundred day simple moving average is $6.25. The stock has a market capitalization of $1.04 billion, a P/E ratio of -2.08 and a beta of 1.06. Iovance Biotherapeutics has a 52-week low of $2.70 and a 52-week high of $14.13.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. Research analysts forecast that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Accredited Investors Inc. bought a new stake in shares of Iovance Biotherapeutics during the first quarter valued at approximately $33,000. AlphaQuest LLC increased its holdings in Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Iovance Biotherapeutics in the 4th quarter valued at $36,000. FNY Investment Advisers LLC purchased a new stake in Iovance Biotherapeutics in the 1st quarter worth $39,000. Finally, Gould Asset Management LLC CA bought a new position in shares of Iovance Biotherapeutics during the 1st quarter valued at about $39,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

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.