Iovance Biotherapeutics (NASDAQ:IOVA) Posts Earnings Results, Beats Expectations By $0.04 EPS

Iovance Biotherapeutics (NASDAQ:IOVA) released its earnings results on Tuesday. The biotechnology company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04, FiscalAI reports. The company had revenue of $86.71 million for the quarter, compared to analyst estimates of $81.61 million. Iovance Biotherapeutics had a negative net margin of 158.78% and a negative return on equity of 55.24%.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $2.89 on Tuesday. Iovance Biotherapeutics has a 1 year low of $1.64 and a 1 year high of $5.88. The company has a market cap of $1.15 billion, a PE ratio of -2.41 and a beta of 0.76. The stock’s 50-day moving average is $2.61 and its 200 day moving average is $2.39.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IOVA. HC Wainwright cut their price target on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Barclays increased their target price on Iovance Biotherapeutics from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Chardan Capital decreased their price target on Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $2.00 price objective on shares of Iovance Biotherapeutics in a research note on Thursday, February 5th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.50.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of large investors have recently made changes to their positions in IOVA. Motley Fool Asset Management LLC bought a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at approximately $29,000. Granite Investment Partners LLC bought a new stake in Iovance Biotherapeutics in the fourth quarter valued at $29,000. Diversify Wealth Management LLC bought a new stake in Iovance Biotherapeutics in the second quarter valued at $34,000. Dynamic Technology Lab Private Ltd purchased a new position in Iovance Biotherapeutics during the 4th quarter valued at $46,000. Finally, HighTower Advisors LLC raised its holdings in Iovance Biotherapeutics by 67.9% in the 4th quarter. HighTower Advisors LLC now owns 19,089 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 7,718 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors.

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.