Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Sees Large Growth in Short Interest

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 131,334,639 shares, a growth of 24.8% from the January 29th total of 105,255,004 shares. Currently, 36.9% of the shares of the company are sold short. Based on an average daily volume of 8,986,769 shares, the days-to-cover ratio is currently 14.6 days. Based on an average daily volume of 8,986,769 shares, the days-to-cover ratio is currently 14.6 days. Currently, 36.9% of the shares of the company are sold short.

Iovance Biotherapeutics Stock Up 13.9%

Iovance Biotherapeutics stock traded up $0.52 during trading hours on Wednesday, hitting $4.26. 24,609,391 shares of the company traded hands, compared to its average volume of 14,874,086. The firm has a market cap of $1.75 billion, a P/E ratio of -3.80 and a beta of 0.69. The firm’s 50-day simple moving average is $2.79 and its two-hundred day simple moving average is $2.46. Iovance Biotherapeutics has a 1-year low of $1.64 and a 1-year high of $4.35.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. The company had revenue of $86.77 million during the quarter, compared to analyst estimates of $81.61 million. On average, equities research analysts predict that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

IOVA has been the subject of a number of recent research reports. Citizens Jmp upgraded Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 price objective for the company in a research note on Tuesday. Chardan Capital cut their target price on Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. The Goldman Sachs Group restated a “sell” rating and set a $2.00 price target on shares of Iovance Biotherapeutics in a research report on Thursday, February 5th. Wall Street Zen upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Barclays upped their target price on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.63.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several hedge funds have recently modified their holdings of IOVA. Arcataur Capital Management LLC acquired a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at $29,000. Granite Investment Partners LLC bought a new stake in Iovance Biotherapeutics in the fourth quarter worth about $29,000. Motley Fool Asset Management LLC acquired a new stake in Iovance Biotherapeutics in the 4th quarter valued at about $29,000. M&T Bank Corp bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at about $31,000. Finally, SBI Securities Co. Ltd. grew its stake in shares of Iovance Biotherapeutics by 169.1% in 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 last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.