Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Up 7.6% – What’s Next?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price traded up 7.6% during mid-day trading on Monday . The company traded as high as $3.23 and last traded at $3.29. 1,892,668 shares were traded during trading, a decline of 75% from the average session volume of 7,455,457 shares. The stock had previously closed at $3.06.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IOVA. The Goldman Sachs Group reduced their price target on Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday. Chardan Capital reduced their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Barclays dropped their target price on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Robert W. Baird lowered their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.22.

Iovance Biotherapeutics Trading Up 3.6 %

The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -2.13 and a beta of 1.05. The stock has a 50-day moving average price of $3.95 and a 200 day moving average price of $6.76.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The firm had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. Equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several large investors have recently bought and sold shares of IOVA. Vanguard Group Inc. boosted its stake in shares of Iovance Biotherapeutics by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company’s stock worth $203,754,000 after acquiring an additional 220,373 shares during the last quarter. Hood River Capital Management LLC grew its holdings in shares of Iovance Biotherapeutics by 10.4% during the fourth quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock worth $66,538,000 after buying an additional 846,936 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Iovance Biotherapeutics by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock valued at $43,458,000 after buying an additional 222,425 shares during the last quarter. Long Focus Capital Management LLC lifted its stake in shares of Iovance Biotherapeutics by 13.2% in the fourth quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company’s stock worth $37,977,000 after buying an additional 600,000 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after acquiring an additional 1,496,941 shares during the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

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.