Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $8.43 Average Price Target from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned a consensus rating of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $8.4286.

IOVA has been the topic of a number of analyst reports. Truist Financial upgraded Iovance Biotherapeutics to a “hold” rating in a report on Wednesday, March 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. Finally, Chardan Capital cut their target price on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th.

Hedge Funds Weigh In On Iovance Biotherapeutics

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock valued at $74,275,000 after purchasing an additional 3,148,096 shares during the last quarter. State Street Corp increased its position in Iovance Biotherapeutics by 51.5% during the 4th quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company’s stock valued at $55,041,000 after buying an additional 6,851,486 shares in the last quarter. Invenomic Capital Management LP increased its position in Iovance Biotherapeutics by 13.5% during the 4th quarter. Invenomic Capital Management LP now owns 11,959,505 shares of the biotechnology company’s stock valued at $32,649,000 after buying an additional 1,417,897 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Iovance Biotherapeutics by 30.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,607,564 shares of the biotechnology company’s stock valued at $23,499,000 after buying an additional 2,032,062 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Iovance Biotherapeutics by 16.4% in the fourth quarter. Geode Capital Management LLC now owns 7,991,640 shares of the biotechnology company’s stock valued at $21,821,000 after buying an additional 1,123,337 shares during the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Down 3.2%

Shares of NASDAQ IOVA traded down $0.14 during midday trading on Monday, reaching $4.23. 9,920,083 shares of the company’s stock traded hands, compared to its average volume of 12,841,154. The stock’s 50 day simple moving average is $3.98 and its 200-day simple moving average is $3.49. Iovance Biotherapeutics has a one year low of $1.70 and a one year high of $5.63. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -4.45 and a beta of 0.70.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.19) EPS for the quarter, hitting analysts’ consensus estimates of ($0.19). The company had revenue of $71.43 million during the quarter, compared to the consensus estimate of $77.84 million. Iovance Biotherapeutics had a negative net margin of 123.92% and a negative return on equity of 50.17%. Iovance Biotherapeutics’s revenue for the quarter was up 44.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.36) earnings per share. Equities analysts predict that Iovance Biotherapeutics will post -0.62 EPS for the current fiscal year.

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.