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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $12.22.

IOVA has been the subject of a number of recent analyst reports. Citizens Jmp lowered shares of Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a research report on Friday, May 9th. Barclays dropped their target price on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, May 12th. Baird R W lowered Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. JMP Securities restated a “market perform” rating on shares of Iovance Biotherapeutics in a research report on Friday, May 9th. Finally, Truist Financial cut Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Monday, May 12th.

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA opened at $1.75 on Thursday. The firm has a market capitalization of $584.38 million, a price-to-earnings ratio of -1.41 and a beta of 0.85. Iovance Biotherapeutics has a one year low of $1.64 and a one year high of $12.51. The business has a fifty day moving average price of $2.22 and a 200-day moving average price of $4.11.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative net margin of 176.49% and a negative return on equity of 49.71%. The company had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. During the same period in the prior year, the firm posted ($0.42) EPS. The business’s revenue for the quarter was up 6795.1% on a year-over-year basis. On average, equities research analysts expect that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

A number of large investors have recently made changes to their positions in the business. Accredited Investors Inc. purchased a new position in Iovance Biotherapeutics in the first quarter worth about $33,000. WealthTrust Axiom LLC purchased a new position in shares of Iovance Biotherapeutics in the 1st quarter worth approximately $33,000. AlphaQuest LLC increased its position in shares of Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Iovance Biotherapeutics during the 4th quarter valued at $36,000. Finally, Flputnam Investment Management Co. purchased a new stake in Iovance Biotherapeutics during the 1st quarter valued at $37,000. 77.03% of the stock is currently owned by 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.