Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Consensus Recommendation of “Hold” by Analysts

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

IOVA has been the topic of several recent research reports. HC Wainwright dropped their price target 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research note 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 note on Thursday, November 6th. Finally, Barclays lifted their price target on shares of Iovance Biotherapeutics from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vontobel Holding Ltd. acquired a new position in Iovance Biotherapeutics in the third quarter valued at $26,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Iovance Biotherapeutics in the 3rd quarter worth about $27,000. WealthTrust Axiom LLC lifted its stake in shares of Iovance Biotherapeutics by 80.0% in the 2nd quarter. WealthTrust Axiom LLC now owns 18,000 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 8,000 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Iovance Biotherapeutics by 67.6% during the 3rd quarter. Federated Hermes Inc. now owns 15,111 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 6,095 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in Iovance Biotherapeutics during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 6.3%

NASDAQ IOVA opened at $2.36 on Monday. The business’s 50 day moving average is $2.45 and its two-hundred day moving average is $2.36. The stock has a market capitalization of $936.85 million, a price-to-earnings ratio of -1.97 and a beta of 0.77. Iovance Biotherapeutics has a 12-month low of $1.64 and a 12-month high of $6.50.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $67.46 million for the quarter, compared to analyst estimates of $76.20 million. Equities analysts forecast that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

About Iovance Biotherapeutics

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.