Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Short Interest Up 24.8% in February

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 131,334,639 shares, a growth of 24.8% from the January 29th total of 105,255,004 shares. Currently, 36.9% of the shares of the stock are sold short. Based on an average daily volume of 8,986,769 shares, the days-to-cover ratio is currently 14.6 days. Based on an average daily volume of 8,986,769 shares, the days-to-cover ratio is currently 14.6 days. Currently, 36.9% of the shares of the stock are sold short.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA opened at $3.79 on Tuesday. The firm has a market capitalization of $1.56 billion, a P/E ratio of -3.38 and a beta of 0.68. The stock has a 50 day moving average price of $2.74 and a 200-day moving average price of $2.44. Iovance Biotherapeutics has a 52-week low of $1.64 and a 52-week high of $4.57.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.04. The company had revenue of $86.77 million for the quarter, compared to analysts’ expectations of $81.61 million. Iovance Biotherapeutics had a negative return on equity of 54.54% and a negative net margin of 148.41%. On average, equities analysts forecast that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IOVA. Caitong International Asset Management Co. Ltd lifted its position in Iovance Biotherapeutics by 658.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 47,277 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 41,047 shares during the period. Invesco Ltd. increased its stake in shares of Iovance Biotherapeutics by 32.4% during the fourth quarter. Invesco Ltd. now owns 1,251,665 shares of the biotechnology company’s stock valued at $3,417,000 after purchasing an additional 306,195 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of Iovance Biotherapeutics by 148.4% during the fourth quarter. XTX Topco Ltd now owns 522,934 shares of the biotechnology company’s stock valued at $1,428,000 after purchasing an additional 312,413 shares during the last quarter. VARCOV Co. bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $253,000. Finally, Virtus Investment Advisers LLC increased its holdings in shares of Iovance Biotherapeutics by 61.5% during the fourth quarter. Virtus Investment Advisers LLC now owns 310,641 shares of the biotechnology company’s stock valued at $848,000 after acquiring an additional 118,263 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IOVA shares. The Goldman Sachs Group reissued a “sell” rating and issued a $2.00 price target on shares of Iovance Biotherapeutics in a report on Thursday, February 5th. Barclays lifted their price objective on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Citizens Jmp raised Iovance Biotherapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research note on Wednesday, February 25th. Chardan Capital lowered their price target on Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Wall Street Zen raised Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.63.

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.