Iovance Biotherapeutics (NASDAQ:IOVA) Trading 7.8% Higher – Should You Buy?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) rose 7.8% during mid-day trading on Monday . The company traded as high as $9.28 and last traded at $9.2740. 6,415,573 shares were traded during trading, a decline of 58% from the average daily volume of 15,381,235 shares. The stock had previously closed at $8.60.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. UBS Group boosted their price target on Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Citizens Jmp lifted their target price on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Barclays boosted their price target on shares of Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, TD Cowen lifted their price objective on Iovance Biotherapeutics from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.89.

Iovance Biotherapeutics Trading Up 7.4%

The firm has a 50 day moving average price of $6.33 and a 200-day moving average price of $4.74. The firm has a market cap of $4.18 billion, a PE ratio of -12.65 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $198.63 million for the quarter, compared to the consensus estimate of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The company’s quarterly revenue was up 65.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.33) EPS. Equities analysts forecast that Iovance Biotherapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Large investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its holdings in shares of Iovance Biotherapeutics by 5.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 32,957 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 1,691 shares during the period. Xponance LLC lifted its holdings in shares of Iovance Biotherapeutics by 19.4% during the fourth quarter. Xponance LLC now owns 24,288 shares of the biotechnology company’s stock valued at $66,000 after acquiring an additional 3,950 shares during the period. GTS Securities LLC grew its holdings in shares of Iovance Biotherapeutics by 44.6% in the 2nd quarter. GTS Securities LLC now owns 14,461 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 4,457 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Iovance Biotherapeutics by 1.4% during the 2nd quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company’s stock worth $557,000 after purchasing an additional 4,618 shares in the last quarter. Finally, Orion Investment Co lifted its holdings in Iovance Biotherapeutics by 0.3% during the 4th quarter. Orion Investment Co now owns 1,856,934 shares of the biotechnology company’s stock valued at $5,069,000 after purchasing an additional 5,150 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. Its platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded in a manufacturing facility and returned to the patient to help recognize and attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.