Iovance Biotherapeutics (NASDAQ:IOVA) Sees Strong Trading Volume After Strong Earnings

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) shares saw unusually-high trading volume on Thursday following a stronger than expected earnings report. Approximately 31,618,553 shares changed hands during trading, an increase of 136% from the previous session’s volume of 13,407,334 shares.The stock last traded at $2.2950 and had previously closed at $1.81.

The biotechnology company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.03. Iovance Biotherapeutics had a negative net margin of 161.44% and a negative return on equity of 52.87%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IOVA shares. The Goldman Sachs Group downgraded shares of Iovance Biotherapeutics from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 15th. Chardan Capital dropped their price objective on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research note on Wednesday, October 8th. Zacks Research raised shares of Iovance Biotherapeutics to a “hold” rating in a report on Tuesday, August 12th. Finally, HC Wainwright decreased their target price on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Iovance Biotherapeutics currently has an average rating of “Hold” and a consensus price target of $10.80.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. grew its holdings in Iovance Biotherapeutics by 1.4% during the 2nd quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company’s stock worth $557,000 after acquiring an additional 4,618 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in Iovance Biotherapeutics by 39.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 18,560 shares of the biotechnology company’s stock worth $62,000 after acquiring an additional 5,205 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Iovance Biotherapeutics by 12.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 45,877 shares of the biotechnology company’s stock worth $153,000 after acquiring an additional 5,237 shares during the last quarter. Flputnam Investment Management Co. grew its holdings in Iovance Biotherapeutics by 35.4% during the 3rd quarter. Flputnam Investment Management Co. now owns 20,289 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 5,300 shares during the last quarter. Finally, GRIMES & Co WEALTH MANAGEMENT LLC grew its holdings in Iovance Biotherapeutics by 14.6% during the 3rd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 43,345 shares of the biotechnology company’s stock worth $94,000 after acquiring an additional 5,506 shares during the last quarter. 77.03% of the stock is owned by institutional investors.

Iovance Biotherapeutics Trading Up 24.6%

The stock has a market cap of $815.98 million, a price-to-earnings ratio of -1.83 and a beta of 0.87. The stock’s 50-day moving average price is $2.19 and its 200-day moving average price is $2.29.

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.