Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has received a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $23.00.

Several research firms have recently commented on IOVA. Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $19.00 to $10.00 in a report on Monday, July 29th. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Monday, August 12th. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Finally, JMP Securities decreased their price objective on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a report on Thursday, June 20th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. ORG Partners LLC acquired a new stake in shares of Iovance Biotherapeutics during the 2nd quarter valued at about $32,000. Quest Partners LLC boosted its position in Iovance Biotherapeutics by 1,237.7% during the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 4,629 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Iovance Biotherapeutics by 1,227.8% in the fourth quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 4,678 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in shares of Iovance Biotherapeutics in the second quarter valued at approximately $58,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after buying an additional 7,781 shares during the period. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of IOVA opened at $9.39 on Tuesday. The stock has a 50-day moving average of $9.92 and a two-hundred day moving average of $10.41. The stock has a market cap of $2.63 billion, a P/E ratio of -5.22 and a beta of 0.63. Iovance Biotherapeutics has a one year low of $3.21 and a one year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The firm had revenue of $31.11 million during the quarter, compared to the consensus estimate of $24.59 million. During the same quarter in the previous year, the company posted ($0.47) earnings per share. The company’s revenue was up 12969.7% compared to the same quarter last year. Analysts predict that Iovance Biotherapeutics will post -1.26 EPS for the current fiscal year.

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.