Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Average Recommendation of “Hold” from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have received an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $11.10.

A number of analysts have commented on the company. Chardan Capital lowered their price target on Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Iovance Biotherapeutics in a report on Wednesday, October 8th. HC Wainwright dropped their target price on Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Finally, Barclays raised their price target on shares of Iovance Biotherapeutics from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th.

Iovance Biotherapeutics Stock Up 12.1%

IOVA stock opened at $2.78 on Thursday. The stock has a market capitalization of $1.10 billion, a PE ratio of -2.32 and a beta of 0.82. Iovance Biotherapeutics has a 52 week low of $1.64 and a 52 week high of $8.15. The firm has a 50 day moving average of $2.28 and a 200 day moving average of $2.27.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. Iovance Biotherapeutics had a negative net margin of 158.78% and a negative return on equity of 55.24%. The business had revenue of $67.46 million during the quarter, compared to analysts’ expectations of $76.20 million. On average, equities research analysts expect that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL acquired a new stake in Iovance Biotherapeutics during the 3rd quarter worth about $264,000. CIBC Bancorp USA Inc. acquired a new stake in Iovance Biotherapeutics during the third quarter worth about $60,000. Polymer Capital Management US LLC raised its position in Iovance Biotherapeutics by 20.9% during the third quarter. Polymer Capital Management US LLC now owns 75,803 shares of the biotechnology company’s stock valued at $164,000 after acquiring an additional 13,104 shares in the last quarter. Palo Alto Investors LP lifted its holdings in Iovance Biotherapeutics by 122.1% in the third quarter. Palo Alto Investors LP now owns 7,618,132 shares of the biotechnology company’s stock valued at $16,531,000 after acquiring an additional 4,188,803 shares during the period. Finally, Invenomic Capital Management LP boosted its position in Iovance Biotherapeutics by 27.1% in the 3rd quarter. Invenomic Capital Management LP now owns 10,541,608 shares of the biotechnology company’s stock worth $22,875,000 after purchasing an additional 2,246,945 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Company Profile

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.