Iovance Biotherapeutics (NASDAQ:IOVA) Shares Down 0.7%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price fell 0.7% during trading on Tuesday . The stock traded as low as $7.86 and last traded at $8.02. 1,833,642 shares were traded during trading, a decline of 77% from the average session volume of 7,835,386 shares. The stock had previously closed at $8.08.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Chardan Capital boosted their target price on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. HC Wainwright reissued a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, May 31st. Wells Fargo & Company upped their price objective on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Barclays upped their price target on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Piper Sandler upped their price objective on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.64.

Iovance Biotherapeutics Stock Down 1.0 %

The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -4.46 and a beta of 0.81. The stock’s 50-day simple moving average is $10.76 and its 200 day simple moving average is $10.75.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.03. The business had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $1.99 million. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The firm’s quarterly revenue was up 71400.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.50) earnings per share. As a group, equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.35 earnings per share for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently modified their holdings of IOVA. Quadrant Capital Group LLC boosted its stake in Iovance Biotherapeutics by 1,227.8% in the 4th quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 4,678 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Iovance Biotherapeutics during the 1st quarter worth approximately $87,000. Annandale Capital LLC acquired a new stake in Iovance Biotherapeutics in the third quarter valued at $32,000. Nisa Investment Advisors LLC grew its position in shares of Iovance Biotherapeutics by 284.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 5,577 shares during the period. Finally, Clear Street Markets LLC acquired a new position in shares of Iovance Biotherapeutics during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

About Iovance Biotherapeutics

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.