Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $20.25.

A number of research firms have weighed in on IOVA. Chardan Capital dropped their price objective on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Truist Financial dropped their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Piper Sandler decreased their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Finally, Robert W. Baird cut their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th.

Iovance Biotherapeutics Stock Up 2.5 %

Shares of Iovance Biotherapeutics stock opened at $3.63 on Tuesday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -2.44 and a beta of 0.93. Iovance Biotherapeutics has a twelve month low of $3.42 and a twelve month high of $15.50. The company’s fifty day moving average is $5.08 and its 200 day moving average is $7.70.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The business had revenue of $73.69 million for the quarter, compared to analyst estimates of $72.17 million. As a group, equities analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its position in shares of Iovance Biotherapeutics by 7.3% during the fourth quarter. California State Teachers Retirement System now owns 203,241 shares of the biotechnology company’s stock valued at $1,504,000 after buying an additional 13,774 shares during the last quarter. Arcadia Wealth Management Inc. purchased a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at about $117,000. B. Riley Wealth Advisors Inc. grew its stake in shares of Iovance Biotherapeutics by 39.4% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,442 shares of the biotechnology company’s stock worth $144,000 after acquiring an additional 5,500 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at approximately $47,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at approximately $3,353,000. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Company Profile

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.