Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Up 7.5% – Here’s What Happened

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) were up 7.5% on Tuesday . The company traded as high as $4.35 and last traded at $4.3650. Approximately 2,232,895 shares traded hands during trading, a decline of 85% from the average session volume of 14,784,898 shares. The stock had previously closed at $4.06.

Analyst Ratings Changes

A number of analysts recently issued reports on IOVA shares. Barclays lifted their price target on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. 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. UBS Group raised their price objective on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Truist Financial raised shares of Iovance Biotherapeutics to a “hold” rating in a research report on Wednesday, March 25th. Finally, Wall Street Zen upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.43.

Iovance Biotherapeutics Stock Performance

The firm has a market capitalization of $1.90 billion, a P/E ratio of -4.47 and a beta of 0.74. The stock has a fifty day moving average price of $3.83 and a two-hundred day moving average price of $3.33.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Arcataur Capital Management LLC bought a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at about $29,000. Granite Investment Partners LLC acquired a new stake in Iovance Biotherapeutics during the fourth quarter worth about $29,000. Motley Fool Asset Management LLC bought a new position in Iovance Biotherapeutics in the fourth quarter worth about $29,000. M&T Bank Corp bought a new position in Iovance Biotherapeutics in the fourth quarter worth about $31,000. Finally, SBI Securities Co. Ltd. lifted its holdings in Iovance Biotherapeutics by 169.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 11,568 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 7,269 shares during the last quarter. 77.03% of the stock is currently owned by 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.