Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Down 0.1%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) shares fell 0.1% during trading on Wednesday . The stock traded as low as $7.72 and last traded at $7.72. 1,112,182 shares were traded during trading, a decline of 86% from the average session volume of 7,856,607 shares. The stock had previously closed at $7.73.

Analyst Ratings Changes

Several brokerages have recently commented on IOVA. JMP Securities decreased their price objective on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a report on Thursday, June 20th. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, June 28th. Finally, Piper Sandler increased their price objective on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.45.

Iovance Biotherapeutics Trading Down 4.1 %

The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -4.29 and a beta of 0.63. The company has a fifty day moving average of $9.87 and a 200-day moving average of $10.85.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.03. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The company had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $1.99 million. During the same period in the previous year, the firm posted ($0.50) EPS. Iovance Biotherapeutics’s revenue was up 71400.0% compared to the same quarter last year. As a group, equities research analysts expect that Iovance Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Iovance Biotherapeutics by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock worth $369,245,000 after purchasing an additional 2,102,480 shares in the last quarter. Avoro Capital Advisors LLC lifted its stake in Iovance Biotherapeutics by 74.6% in the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock worth $173,394,000 after purchasing an additional 5,000,000 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Iovance Biotherapeutics by 60.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock worth $78,071,000 after purchasing an additional 1,991,262 shares in the last quarter. Hood River Capital Management LLC lifted its stake in Iovance Biotherapeutics by 31.1% in the 1st quarter. Hood River Capital Management LLC now owns 2,624,238 shares of the biotechnology company’s stock worth $38,891,000 after purchasing an additional 622,728 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Iovance Biotherapeutics by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,747,023 shares of the biotechnology company’s stock worth $14,203,000 after purchasing an additional 54,490 shares in the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

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.