Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 7.5% – What’s Next?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) shot up 7.5% during mid-day trading on Friday . The company traded as high as $1.97 and last traded at $1.94. 2,295,873 shares traded hands during trading, a decline of 74% from the average session volume of 8,684,486 shares. The stock had previously closed at $1.80.

Analyst Ratings Changes

A number of brokerages have issued reports on IOVA. Mizuho decreased their price target on Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating for the company in a report on Monday, May 12th. Chardan Capital decreased their price target on Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a report on Friday, May 9th. Barclays decreased their price target on Iovance Biotherapeutics from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, May 12th. UBS Group downgraded Iovance Biotherapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $17.00 to $2.00 in a report on Friday, May 16th. Finally, Baird R W downgraded Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.30.

Iovance Biotherapeutics Trading Up 13.9%

The company has a 50 day simple moving average of $2.64 and a 200 day simple moving average of $4.93. The stock has a market capitalization of $684.56 million, a PE ratio of -1.38 and a beta of 0.86.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.11). The company had revenue of $49.32 million for the quarter, compared to analysts’ expectations of $83.40 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The firm’s revenue was up 6795.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.42) earnings per share. On average, equities research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Institutional Trading of Iovance Biotherapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in IOVA. Invenomic Capital Management LP purchased a new stake in Iovance Biotherapeutics during the 1st quarter valued at approximately $18,281,000. Long Focus Capital Management LLC increased its position in Iovance Biotherapeutics by 80.2% during the 1st quarter. Long Focus Capital Management LLC now owns 9,250,055 shares of the biotechnology company’s stock worth $30,803,000 after purchasing an additional 4,118,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Iovance Biotherapeutics by 202.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock worth $19,239,000 after purchasing an additional 3,869,617 shares during the period. Man Group plc acquired a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $17,871,000. Finally, Raymond James Financial Inc. acquired a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $11,568,000. 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.