Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 3.9% – Time to Buy?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was up 3.9% on Monday . The stock traded as high as $1.73 and last traded at $1.73. Approximately 2,981,276 shares changed hands during trading, a decline of 65% from the average daily volume of 8,500,804 shares. The stock had previously closed at $1.66.

Analysts Set New Price Targets

A number of equities analysts recently commented on IOVA shares. Chardan Capital decreased their target price on Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Robert W. Baird cut their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Baird R W lowered Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. HC Wainwright decreased their price objective on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, The Goldman Sachs Group decreased their price target on shares of Iovance Biotherapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.30.

Iovance Biotherapeutics Stock Up 3.4%

The firm has a market cap of $631.80 million, a price-to-earnings ratio of -1.27 and a beta of 1.06. The business’s 50-day simple moving average is $3.09 and its two-hundred day simple moving average is $5.66.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. During the same quarter last year, the company earned ($0.42) earnings per share. The company’s revenue was up 6795.1% compared to the same quarter last year. On average, analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Iovance Biotherapeutics by 0.9% during the first quarter. Vanguard Group Inc. now owns 27,777,778 shares of the biotechnology company’s stock worth $92,500,000 after purchasing an additional 243,438 shares during the period. Long Focus Capital Management LLC boosted its position in shares of Iovance Biotherapeutics by 80.2% during the 1st quarter. Long Focus Capital Management LLC now owns 9,250,055 shares of the biotechnology company’s stock valued at $30,803,000 after purchasing an additional 4,118,055 shares in the last quarter. Hood River Capital Management LLC lifted its position in shares of Iovance Biotherapeutics by 10.4% in the fourth quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock worth $66,538,000 after purchasing an additional 846,936 shares in the last quarter. Geode Capital Management LLC raised its position in Iovance Biotherapeutics by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock valued at $43,458,000 after acquiring an additional 222,425 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Iovance Biotherapeutics by 202.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock valued at $19,239,000 after acquiring an additional 3,869,617 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors.

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.