Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have received a consensus rating of “Hold” from the twelve research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $8.8750.

A number of research analysts have recently commented on IOVA shares. Citizens Jmp raised shares of Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 target price on the stock in a research report on Tuesday, March 3rd. Wall Street Zen raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Truist Financial raised shares of Iovance Biotherapeutics to a “hold” rating in a research report on Wednesday, March 25th. Chardan Capital reissued a “buy” rating and set a $16.00 target price on shares of Iovance Biotherapeutics in a research report on Friday, April 10th. Finally, UBS Group boosted their target price on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th.

Iovance Biotherapeutics Trading Down 1.5%

NASDAQ IOVA opened at $3.38 on Wednesday. The company’s fifty day simple moving average is $3.75 and its 200-day simple moving average is $2.89. Iovance Biotherapeutics has a 52 week low of $1.64 and a 52 week high of $5.63. The stock has a market cap of $1.39 billion, a P/E ratio of -3.02 and a beta of 0.76.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. The business had revenue of $86.77 million for the quarter, compared to analysts’ expectations of $81.61 million. On average, research analysts expect that Iovance Biotherapeutics will post -0.61 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Invenomic Capital Management LP raised its holdings in Iovance Biotherapeutics by 27.1% in the third quarter. Invenomic Capital Management LP now owns 10,541,608 shares of the biotechnology company’s stock valued at $22,875,000 after acquiring an additional 2,246,945 shares in the last quarter. Mirador Capital Partners LP raised its holdings in Iovance Biotherapeutics by 100.9% in the fourth quarter. Mirador Capital Partners LP now owns 1,034,544 shares of the biotechnology company’s stock valued at $2,824,000 after acquiring an additional 519,519 shares in the last quarter. Aberdeen Group plc raised its holdings in Iovance Biotherapeutics by 25.1% in the fourth quarter. Aberdeen Group plc now owns 759,522 shares of the biotechnology company’s stock valued at $2,073,000 after acquiring an additional 152,312 shares in the last quarter. Rhenman & Partners Asset Management AB raised its holdings in Iovance Biotherapeutics by 69.5% in the third quarter. Rhenman & Partners Asset Management AB now owns 1,097,827 shares of the biotechnology company’s stock valued at $2,382,000 after acquiring an additional 450,000 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in Iovance Biotherapeutics by 65.1% in the third quarter. Rafferty Asset Management LLC now owns 482,975 shares of the biotechnology company’s stock valued at $1,048,000 after acquiring an additional 190,522 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a clinical?stage biotechnology company specializing in the development and commercialization of tumor?infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN?144), is an autologous TIL therapy in late?stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next?generation TIL programs such as LN?145 for cervical and other human papillomavirus (HPV)?related cancers, as well as exploratory studies in head and neck, non?small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor?reactive lymphocytes.