Iovance Biotherapeutics (NASDAQ:IOVA) Hits New 52-Week High – Should You Buy?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $5.64 and last traded at $5.28, with a volume of 1731287 shares trading hands. The stock had previously closed at $5.48.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on IOVA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Chardan Capital reduced their price target on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Iovance Biotherapeutics currently has a consensus rating of “Hold” and an average price target of $8.43.

Iovance Biotherapeutics Trading Down 0.8%

The business has a fifty day moving average price of $4.18 and a two-hundred day moving average price of $3.62. The firm has a market capitalization of $2.29 billion, a PE ratio of -5.40 and a beta of 0.70.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.19). Iovance Biotherapeutics had a negative return on equity of 50.17% and a negative net margin of 123.92%.The company had revenue of $71.43 million for the quarter, compared to analyst estimates of $77.84 million. During the same quarter in the previous year, the company earned ($0.36) earnings per share. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. On average, equities analysts forecast that Iovance Biotherapeutics, Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arcataur Capital Management LLC acquired a new stake in Iovance Biotherapeutics during the fourth quarter worth approximately $29,000. Granite Investment Partners LLC acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $29,000. Motley Fool Asset Management LLC acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $29,000. M&T Bank Corp purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $31,000. Finally, SBI Securities Co. Ltd. grew its position 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 valued at $32,000 after buying an additional 7,269 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

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.