Iovance Biotherapeutics (NASDAQ:IOVA) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a report published on Friday, Benzinga reports. They currently have a $32.00 price target on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the stock. StockNews.com raised shares of Iovance Biotherapeutics to a sell rating in a research report on Friday, February 2nd. Barclays upped their price target on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Wells Fargo & Company boosted their price objective on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an overweight rating in a research note on Friday, March 1st. Piper Sandler boosted their price objective on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an overweight rating in a research note on Thursday, March 14th. Finally, Chardan Capital boosted their price objective on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock a buy rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Iovance Biotherapeutics has an average rating of Moderate Buy and an average target price of $24.64.

Iovance Biotherapeutics Trading Down 2.4 %

Shares of NASDAQ:IOVA opened at $10.01 on Friday. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -5.56 and a beta of 0.66. Iovance Biotherapeutics has a 12 month low of $3.21 and a 12 month high of $18.33. The firm’s 50-day moving average is $12.57 and its 200 day moving average is $10.30.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.03. The company had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.99 million. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The firm’s revenue was up 71400.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.50) EPS. As a group, equities analysts forecast that Iovance Biotherapeutics will post -1.37 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in IOVA. Vanguard Group Inc. boosted its holdings in Iovance Biotherapeutics by 9.2% during the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock worth $369,245,000 after buying an additional 2,102,480 shares in the last quarter. Avoro Capital Advisors LLC boosted its holdings in Iovance Biotherapeutics by 74.6% during the first quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock worth $173,394,000 after buying an additional 5,000,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Iovance Biotherapeutics by 60.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock worth $78,071,000 after buying an additional 1,991,262 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Iovance Biotherapeutics by 13.8% during the third quarter. Artisan Partners Limited Partnership now owns 5,036,479 shares of the biotechnology company’s stock worth $22,916,000 after buying an additional 609,738 shares in the last quarter. Finally, MPM Bioimpact LLC boosted its holdings in Iovance Biotherapeutics by 11.4% during the third quarter. MPM Bioimpact LLC now owns 3,287,397 shares of the biotechnology company’s stock worth $14,958,000 after buying an additional 337,279 shares in the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

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.