Iovance Biotherapeutics (NASDAQ:IOVA) Trading 3.4% Higher

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price rose 3.4% during mid-day trading on Tuesday . The stock traded as high as $10.84 and last traded at $10.70. Approximately 1,648,807 shares changed hands during trading, a decline of 79% from the average daily volume of 7,954,550 shares. The stock had previously closed at $10.35.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, May 10th. Piper Sandler lifted their price target on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Barclays upped their target price on Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Chardan Capital raised their price target on Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Finally, JMP Securities lifted their target price on shares of Iovance Biotherapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.64.

Iovance Biotherapeutics Price Performance

The stock’s fifty day moving average is $12.73 and its two-hundred day moving average is $10.22.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.03. The company had revenue of $0.72 million for the quarter, compared to analyst estimates of $1.99 million. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. Iovance Biotherapeutics’s revenue was up 71400.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.50) earnings per share. Analysts expect that Iovance Biotherapeutics, Inc. will post -1.37 earnings per share for the current year.

Institutional Trading of Iovance Biotherapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Kennedy Capital Management LLC raised its position in shares of Iovance Biotherapeutics by 52.3% during the 3rd quarter. Kennedy Capital Management LLC now owns 344,042 shares of the biotechnology company’s stock worth $1,565,000 after buying an additional 118,133 shares in the last quarter. Principal Financial Group Inc. raised its position in Iovance Biotherapeutics by 41.3% in the third quarter. Principal Financial Group Inc. now owns 2,643,155 shares of the biotechnology company’s stock worth $12,026,000 after acquiring an additional 772,905 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Iovance Biotherapeutics by 48.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 130,287 shares of the biotechnology company’s stock worth $1,059,000 after buying an additional 42,692 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Iovance Biotherapeutics by 13.8% in the third quarter. Artisan Partners Limited Partnership now owns 5,036,479 shares of the biotechnology company’s stock worth $22,916,000 after buying an additional 609,738 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Iovance Biotherapeutics by 8.6% in the third quarter. Vanguard Group Inc. now owns 22,143,470 shares of the biotechnology company’s stock valued at $100,753,000 after buying an additional 1,748,082 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

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.