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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $20.25.

A number of research analysts have issued reports on IOVA shares. Robert W. Baird reduced their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Piper Sandler decreased their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Chardan Capital cut their price objective on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Finally, The Goldman Sachs Group dropped their price target on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, March 3rd.

Iovance Biotherapeutics Stock Performance

Shares of IOVA opened at $3.54 on Tuesday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -2.38 and a beta of 0.93. Iovance Biotherapeutics has a fifty-two week low of $3.42 and a fifty-two week high of $15.50. The firm has a 50 day moving average price of $5.12 and a 200-day moving average price of $7.77.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. As a group, equities research analysts predict that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in IOVA. Assetmark Inc. raised its stake in Iovance Biotherapeutics by 48.0% during the 3rd quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company’s stock worth $121,000 after acquiring an additional 4,167 shares during the period. GSA Capital Partners LLP bought a new stake in Iovance Biotherapeutics in the third quarter worth $242,000. Victory Capital Management Inc. boosted its stake in Iovance Biotherapeutics by 399.4% during the third quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock worth $1,355,000 after buying an additional 115,387 shares during the period. Grandfield & Dodd LLC purchased a new position in Iovance Biotherapeutics during the third quarter worth $282,000. Finally, Intech Investment Management LLC purchased a new position in Iovance Biotherapeutics during the third quarter worth $920,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.