Brokerages Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) PT at $23.64

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $24.00.

IOVA has been the topic of several research reports. JMP Securities dropped their price target on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, June 20th. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, June 28th. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a report on Friday, July 12th. Finally, Piper Sandler cut Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $19.00 to $10.00 in a report on Monday, July 29th.

Institutional Trading of Iovance Biotherapeutics

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Iovance Biotherapeutics by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock valued at $369,245,000 after purchasing an additional 2,102,480 shares during the period. Avoro Capital Advisors LLC grew its holdings in shares of Iovance Biotherapeutics by 74.6% during the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock valued at $173,394,000 after acquiring an additional 5,000,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Iovance Biotherapeutics by 60.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock valued at $78,071,000 after acquiring an additional 1,991,262 shares in the last quarter. Hood River Capital Management LLC grew its holdings in shares of Iovance Biotherapeutics by 31.1% during the 1st quarter. Hood River Capital Management LLC now owns 2,624,238 shares of the biotechnology company’s stock valued at $38,891,000 after acquiring an additional 622,728 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Iovance Biotherapeutics by 26.4% during the 2nd quarter. Principal Financial Group Inc. now owns 2,536,243 shares of the biotechnology company’s stock valued at $20,341,000 after acquiring an additional 530,338 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $9.92 on Monday. Iovance Biotherapeutics has a 12 month low of $3.21 and a 12 month high of $18.33. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -5.51 and a beta of 0.63. The stock’s 50 day moving average price is $8.24 and its 200 day moving average price is $10.85.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.01. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The firm had revenue of $31.11 million for the quarter, compared to analysts’ expectations of $24.59 million. During the same quarter in the previous year, the company earned ($0.47) earnings per share. The firm’s quarterly revenue was up 12969.7% compared to the same quarter last year. On average, sell-side analysts expect that Iovance Biotherapeutics will post -1.39 EPS for the current year.

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.