Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 7.8% – Time to Buy?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price traded up 7.8% on Monday . The stock traded as high as $2.44 and last traded at $2.4150. 1,790,923 shares changed hands during trading, a decline of 87% from the average session volume of 13,764,270 shares. The stock had previously closed at $2.24.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IOVA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a report on Wednesday, October 8th. Chardan Capital decreased their price target on shares of Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. HC Wainwright cut their price objective on Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Barclays raised their price objective on Iovance Biotherapeutics from $4.00 to $9.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Zacks Research raised Iovance Biotherapeutics to a “hold” rating in a research report on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Iovance Biotherapeutics Price Performance

The firm has a market cap of $966.62 million, a PE ratio of -2.03 and a beta of 0.87. The business has a fifty day moving average price of $2.21 and a two-hundred day moving average price of $2.20.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. Iovance Biotherapeutics had a negative return on equity of 55.24% and a negative net margin of 158.78%.The firm had revenue of $67.46 million during the quarter, compared to the consensus estimate of $76.20 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new stake in Iovance Biotherapeutics in the 3rd quarter worth approximately $60,000. Polymer Capital Management US LLC increased its stake in shares of Iovance Biotherapeutics by 20.9% in the third quarter. Polymer Capital Management US LLC now owns 75,803 shares of the biotechnology company’s stock worth $164,000 after acquiring an additional 13,104 shares during the last quarter. Palo Alto Investors LP raised its holdings in shares of Iovance Biotherapeutics by 122.1% during the third quarter. Palo Alto Investors LP now owns 7,618,132 shares of the biotechnology company’s stock worth $16,531,000 after acquiring an additional 4,188,803 shares in the last quarter. Invenomic Capital Management LP boosted its position in Iovance Biotherapeutics by 27.1% during the third quarter. Invenomic Capital Management LP now owns 10,541,608 shares of the biotechnology company’s stock valued at $22,875,000 after purchasing an additional 2,246,945 shares during the last quarter. Finally, Cinctive Capital Management LP purchased a new position in Iovance Biotherapeutics in the third quarter valued at about $424,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

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.