Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $21.07 Average PT from Analysts

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $20.90.

Several analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. Piper Sandler cut their price objective on Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Friday, January 31st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IOVA. AlphaQuest LLC boosted its position in shares of Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after buying an additional 1,794 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter worth about $36,000. GF Fund Management CO. LTD. acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter worth about $47,000. One68 Global Capital LLC acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter worth about $74,000. Finally, Quarry LP acquired a new position in Iovance Biotherapeutics during the fourth quarter valued at approximately $74,000. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Trading Down 1.7 %

Shares of NASDAQ:IOVA opened at $5.26 on Friday. Iovance Biotherapeutics has a 1-year low of $5.05 and a 1-year high of $18.33. The firm has a market capitalization of $1.60 billion, a PE ratio of -3.53 and a beta of 0.54. The business’s 50 day moving average is $6.27 and its 200-day moving average is $8.62.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. On average, sell-side analysts predict that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Iovance Biotherapeutics Company Profile

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.