Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $20.25 Average PT from Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.56.

A number of equities research analysts have issued reports on the stock. Truist Financial reduced their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Barclays reduced their price target on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating on the stock in a research report on Monday. The Goldman Sachs Group cut their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Piper Sandler decreased their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Finally, Chardan Capital dropped their target price on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, March 3rd.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several large investors have recently modified their holdings of IOVA. Vanguard Group Inc. increased its holdings in Iovance Biotherapeutics by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company’s stock valued at $203,754,000 after purchasing an additional 220,373 shares during the period. State Street Corp raised its position in shares of Iovance Biotherapeutics by 4.6% during the third quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock worth $123,967,000 after acquiring an additional 576,801 shares during the last quarter. Hood River Capital Management LLC lifted its stake in shares of Iovance Biotherapeutics by 10.4% in the fourth quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock worth $66,538,000 after acquiring an additional 846,936 shares during the period. Geode Capital Management LLC boosted its holdings in Iovance Biotherapeutics by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock valued at $43,458,000 after acquiring an additional 222,425 shares during the last quarter. Finally, Long Focus Capital Management LLC raised its holdings in Iovance Biotherapeutics by 13.2% during the 4th quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company’s stock worth $37,977,000 after purchasing an additional 600,000 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 3.3 %

Shares of IOVA stock opened at $3.41 on Friday. The stock has a 50 day simple moving average of $4.15 and a 200 day simple moving average of $6.94. Iovance Biotherapeutics has a 1 year low of $2.70 and a 1 year high of $14.23. The stock has a market cap of $1.12 billion, a P/E ratio of -2.29 and a beta of 1.05.

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

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.