Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 6.3% – Still a Buy?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price traded up 6.3% during trading on Monday . The company traded as high as $3.75 and last traded at $3.6150. 2,924,554 shares traded hands during trading, a decline of 80% from the average session volume of 14,777,200 shares. The stock had previously closed at $3.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. The Goldman Sachs Group restated a “sell” rating and set a $2.00 price objective on shares of Iovance Biotherapeutics in a report on Thursday, February 5th. Citizens Jmp upgraded shares of Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 price objective on the stock in a report on Tuesday, March 3rd. Chardan Capital restated a “buy” rating and set a $16.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, April 10th. Finally, UBS Group raised their target price on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.88.

Iovance Biotherapeutics Price Performance

The firm has a market cap of $1.68 billion, a P/E ratio of -3.37 and a beta of 0.69. The business’s 50-day moving average is $3.77 and its two-hundred day moving average is $2.90.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. The business had revenue of $86.77 million during the quarter, compared to the consensus estimate of $81.61 million. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. Equities research analysts predict that Iovance Biotherapeutics, Inc. will post -0.61 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Xponance LLC grew its position in shares of Iovance Biotherapeutics by 19.4% in the 4th quarter. Xponance LLC now owns 24,288 shares of the biotechnology company’s stock valued at $66,000 after acquiring an additional 3,950 shares during the period. Raymond James Financial Inc. grew its position in shares of Iovance Biotherapeutics by 1.4% in the 2nd quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company’s stock valued at $557,000 after acquiring an additional 4,618 shares during the period. R Squared Ltd grew its position in shares of Iovance Biotherapeutics by 41.4% in the 3rd quarter. R Squared Ltd now owns 16,043 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 4,700 shares during the period. Orion Investment Co grew its position in shares of Iovance Biotherapeutics by 0.3% in the 4th quarter. Orion Investment Co now owns 1,856,934 shares of the biotechnology company’s stock valued at $5,069,000 after acquiring an additional 5,150 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Iovance Biotherapeutics by 37.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,290 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 5,301 shares during the period. Institutional investors own 77.03% of the company’s stock.

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.