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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One equities research 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 brokerages that have covered the stock in the last year is $23.00.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IOVA. Perceptive Advisors LLC lifted its holdings in Iovance Biotherapeutics by 34.6% in the 2nd quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock worth $207,984,000 after buying an additional 6,660,151 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Iovance Biotherapeutics by 9.2% in 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. Avoro Capital Advisors LLC grew its stake in Iovance Biotherapeutics by 74.6% during the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock valued at $173,394,000 after purchasing an additional 5,000,000 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Iovance Biotherapeutics by 60.8% during the 1st 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 last quarter. Finally, Long Focus Capital Management LLC increased its holdings in Iovance Biotherapeutics by 195.1% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock worth $33,139,000 after purchasing an additional 2,731,688 shares during the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Up 3.9 %

Shares of NASDAQ IOVA opened at $9.61 on Tuesday. Iovance Biotherapeutics has a 52 week low of $3.21 and a 52 week high of $18.33. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -5.34 and a beta of 0.63. The firm has a 50-day moving average price of $9.90 and a 200 day moving average price of $10.47.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The firm had revenue of $31.11 million for the quarter, compared to analysts’ expectations of $24.59 million. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. Iovance Biotherapeutics’s quarterly revenue was up 12969.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.47) EPS. Equities research analysts expect that Iovance Biotherapeutics will post -1.26 EPS for the current fiscal year.

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.