Iovance Biotherapeutics (NASDAQ:IOVA) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a report published on Friday morning, Benzinga reports. They currently have a $32.00 price objective on the biotechnology company’s stock.

Several other analysts have also commented on the stock. JMP Securities raised their price objective on shares of Iovance Biotherapeutics from $18.00 to $25.00 and gave the stock a market outperform rating in a report on Tuesday, February 20th. Chardan Capital raised their price objective on Iovance Biotherapeutics from $29.00 to $34.00 and gave the company a buy rating in a research report on Tuesday, February 20th. StockNews.com raised shares of Iovance Biotherapeutics to a sell rating in a research report on Friday, February 2nd. Wells Fargo & Company lifted their price target on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an overweight rating in a research report on Friday, March 1st. Finally, Barclays upped their price objective on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an overweight rating in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $24.64.

Iovance Biotherapeutics Stock Down 2.4 %

Shares of Iovance Biotherapeutics stock traded down $0.25 on Friday, hitting $10.01. The stock had a trading volume of 6,517,044 shares, compared to its average volume of 5,755,937. The stock’s 50-day simple moving average is $12.57 and its two-hundred day simple moving average is $10.26. Iovance Biotherapeutics has a one year low of $3.21 and a one year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.03. The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $1.99 million. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The business’s revenue was up 71400.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.50) EPS. Equities research analysts forecast that Iovance Biotherapeutics will post -1.37 EPS for the current year.

Institutional Trading of Iovance Biotherapeutics

Several large investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. raised its holdings in Iovance Biotherapeutics by 357.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 87,595 shares of the biotechnology company’s stock worth $399,000 after purchasing an additional 68,436 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Iovance Biotherapeutics by 7.0% in the third quarter. Bank of New York Mellon Corp now owns 853,944 shares of the biotechnology company’s stock worth $3,885,000 after buying an additional 56,160 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Iovance Biotherapeutics by 43.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,990 shares of the biotechnology company’s stock valued at $177,000 after acquiring an additional 11,830 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Iovance Biotherapeutics by 9.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 148,014 shares of the biotechnology company’s stock valued at $673,000 after acquiring an additional 12,852 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in Iovance Biotherapeutics by 23.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 63,289 shares of the biotechnology company’s stock worth $288,000 after acquiring an additional 11,995 shares in the last quarter. 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.