Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 9.8% – What’s Next?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price shot up 9.8% on Friday . The company traded as high as $4.11 and last traded at $4.0620. 6,380,841 shares changed hands during trading, a decline of 57% from the average session volume of 14,991,732 shares. The stock had previously closed at $3.70.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IOVA. Chardan Capital decreased their price objective on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Truist Financial raised Iovance Biotherapeutics to a “hold” rating in a research report on Wednesday, March 25th. Wall Street Zen raised Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. UBS Group increased their target price on Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $2.00 target price on shares of Iovance Biotherapeutics in a research note on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.43.

Iovance Biotherapeutics Trading Up 11.1%

The firm has a market capitalization of $1.84 billion, a PE ratio of -4.33 and a beta of 0.69. The business has a 50 day moving average price of $3.63 and a 200-day moving average price of $3.04.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.19). The business had revenue of $71.43 million during the quarter, compared to the consensus estimate of $77.84 million. Iovance Biotherapeutics had a negative return on equity of 50.17% and a negative net margin of 123.92%.The company’s revenue for the quarter was up 44.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.36) EPS. On average, equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several hedge funds have recently bought and sold shares of IOVA. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Iovance Biotherapeutics in the 3rd quarter valued at approximately $27,000. Arcataur Capital Management LLC purchased a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $29,000. Granite Investment Partners LLC purchased a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $29,000. Motley Fool Asset Management LLC purchased a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $29,000. Finally, M&T Bank Corp purchased a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $31,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Company Profile

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.