Iovance Biotherapeutics (NASDAQ:IOVA) Trading Up 9.4%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price was up 9.4% during mid-day trading on Thursday . The company traded as high as $8.51 and last traded at $8.51. Approximately 1,022,484 shares were traded during trading, a decline of 87% from the average daily volume of 7,799,568 shares. The stock had previously closed at $7.78.

Analyst Upgrades and Downgrades

IOVA has been the subject of a number of research analyst reports. JMP Securities dropped their target price on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a research report on Thursday, June 20th. Piper Sandler raised their target price on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.45.

Iovance Biotherapeutics Price Performance

The business’s 50-day moving average price is $9.34 and its two-hundred day moving average price is $10.81. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -4.73 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.03. The company had revenue of $0.72 million during the quarter, compared to analyst estimates of $1.99 million. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The firm’s revenue for the quarter was up 71400.0% compared to the same quarter last year. During the same period last year, the business earned ($0.50) EPS. Equities analysts predict that Iovance Biotherapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Avoro Capital Advisors LLC grew its position in shares of Iovance Biotherapeutics by 74.6% in the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock worth $173,394,000 after acquiring an additional 5,000,000 shares in the last quarter. Vanguard Group Inc. increased its stake in Iovance Biotherapeutics by 9.2% during the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock valued at $369,245,000 after purchasing an additional 2,102,480 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Iovance Biotherapeutics by 60.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock worth $78,071,000 after purchasing an additional 1,991,262 shares during the period. Norges Bank bought a new position in shares of Iovance Biotherapeutics in the 4th quarter worth about $9,109,000. Finally, Invenomic Capital Management LP acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at about $8,563,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

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.