Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Average Recommendation of “Hold” by Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned an average recommendation of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $8.8750.

Several research firms have commented on IOVA. Truist Financial raised shares of Iovance Biotherapeutics to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group restated a “sell” rating and set a $2.00 price target on shares of Iovance Biotherapeutics in a report on Thursday, February 5th. Barclays lifted their price objective on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. UBS Group increased their target price on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen upgraded Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th.

Iovance Biotherapeutics Price Performance

IOVA opened at $3.51 on Friday. The company has a market capitalization of $1.45 billion, a PE ratio of -3.13 and a beta of 0.69. Iovance Biotherapeutics has a fifty-two week low of $1.64 and a fifty-two week high of $5.63. The business has a 50-day moving average of $3.32 and a 200-day moving average of $2.67.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The firm had revenue of $86.77 million for the quarter, compared to the consensus estimate of $81.61 million. Iovance Biotherapeutics had a negative return on equity of 54.54% and a negative net margin of 148.41%. On average, equities research analysts expect that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Iovance Biotherapeutics by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock worth $74,275,000 after purchasing an additional 3,148,096 shares during the last quarter. State Street Corp grew its holdings in Iovance Biotherapeutics by 51.5% during the fourth quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company’s stock valued at $55,041,000 after purchasing an additional 6,851,486 shares during the last quarter. Invenomic Capital Management LP grew its holdings in Iovance Biotherapeutics by 13.5% during the fourth quarter. Invenomic Capital Management LP now owns 11,959,505 shares of the biotechnology company’s stock valued at $32,649,000 after purchasing an additional 1,417,897 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Iovance Biotherapeutics by 30.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,607,564 shares of the biotechnology company’s stock valued at $23,499,000 after purchasing an additional 2,032,062 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Iovance Biotherapeutics by 16.4% in the fourth quarter. Geode Capital Management LLC now owns 7,991,640 shares of the biotechnology company’s stock valued at $21,821,000 after purchasing an additional 1,123,337 shares during the period. Institutional investors and hedge funds own 77.03% of the company’s stock.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.