Iovance Biotherapeutics (NASDAQ:IOVA) Sets New 12-Month High – Here’s What Happened

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $7.00 and last traded at $6.98, with a volume of 17302868 shares traded. The stock had previously closed at $6.52.

Analysts Set New Price Targets

Several research firms have weighed in on IOVA. Citigroup restated an “outperform” rating on shares of Iovance Biotherapeutics in a report on Friday, August 7th. Barclays increased their target price on Iovance Biotherapeutics from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Robert W. Baird set a $6.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. Finally, Chardan Capital lowered their price objective on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Iovance Biotherapeutics currently has an average rating of “Hold” and an average price target of $8.00.

Iovance Biotherapeutics Stock Up 7.1%

The company has a 50 day simple moving average of $4.60 and a two-hundred day simple moving average of $3.92. The company has a market capitalization of $3.16 billion, a P/E ratio of -9.56 and a beta of 0.71.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $198.63 million during the quarter, compared to analyst estimates of $87.83 million. Iovance Biotherapeutics had a negative return on equity of 40.92% and a negative net margin of 89.11%.The company’s revenue for the quarter was up 65.7% on a year-over-year basis. During the same period last year, the company earned ($0.33) EPS. As a group, research analysts expect that Iovance Biotherapeutics, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

A number of institutional investors have recently bought and sold shares of IOVA. Arcataur Capital Management LLC purchased a new position in Iovance Biotherapeutics during the fourth quarter worth $29,000. Granite Investment Partners LLC bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth about $29,000. Motley Fool Asset Management LLC bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth about $29,000. M&T Bank Corp purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter worth about $31,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Iovance Biotherapeutics by 169.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 11,568 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 7,269 shares during the period. 77.03% of the stock is currently owned by institutional investors.

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.