Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Up 12.5% – What’s Next?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price rose 12.5% during trading on Thursday . The company traded as high as $4.22 and last traded at $4.2650. Approximately 3,337,288 shares were traded during trading, a decline of 78% from the average daily volume of 14,918,423 shares. The stock had previously closed at $3.79.

Analyst Ratings Changes

IOVA has been the subject of a number of recent analyst reports. Citizens Jmp upgraded shares of Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 price target for the company in a report on Tuesday, March 3rd. The Goldman Sachs Group reiterated a “sell” rating and set a $2.00 price target on shares of Iovance Biotherapeutics in a report on Thursday, February 5th. UBS Group upped their price target on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Chardan Capital decreased their price objective on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, Barclays upped their price objective on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.43.

Iovance Biotherapeutics Trading Up 14.9%

The firm has a market capitalization of $1.94 billion, a P/E ratio of -4.65 and a beta of 0.74. The company’s fifty day simple moving average is $3.67 and its 200 day simple moving average is $3.15.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.19) EPS for the quarter, hitting the consensus estimate of ($0.19). Iovance Biotherapeutics had a negative net margin of 123.92% and a negative return on equity of 50.17%. The business had revenue of $71.43 million during the quarter, compared to analyst estimates of $77.84 million. During the same period in the prior year, the business earned ($0.36) EPS. The company’s revenue for the quarter was up 44.9% on a year-over-year basis. On average, analysts predict that Iovance Biotherapeutics, Inc. will post -0.63 earnings per share for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of IOVA. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Iovance Biotherapeutics in the 3rd quarter worth about $27,000. Arcataur Capital Management LLC purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth about $29,000. Granite Investment Partners LLC purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth about $29,000. Motley Fool Asset Management LLC purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth about $29,000. Finally, M&T Bank Corp purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth about $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.