Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $8.43 Average PT from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned a consensus rating of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $8.4286.

Several research analysts have issued reports on the company. Chardan Capital dropped their target price on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd.

Institutional Investors Weigh In On Iovance Biotherapeutics

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in Iovance Biotherapeutics by 161.2% during the 1st quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company’s stock valued at $1,740,000 after purchasing an additional 322,680 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Iovance Biotherapeutics by 279.0% during the 1st quarter. AQR Capital Management LLC now owns 59,540 shares of the biotechnology company’s stock worth $195,000 after buying an additional 43,829 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Iovance Biotherapeutics by 30.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock valued at $18,554,000 after buying an additional 1,301,846 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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 buying an additional 3,869,617 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Iovance Biotherapeutics by 112.1% in the second quarter. Envestnet Asset Management Inc. now owns 47,466 shares of the biotechnology company’s stock valued at $82,000 after acquiring an additional 25,083 shares in the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Performance

IOVA stock opened at $4.36 on Friday. The firm has a fifty day moving average price of $4.32 and a 200 day moving average price of $3.74. Iovance Biotherapeutics has a fifty-two week low of $1.76 and a fifty-two week high of $5.64. The firm has a market cap of $1.95 billion, a PE ratio of -4.59 and a beta of 0.71.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share for the quarter, hitting the consensus estimate of ($0.19). Iovance Biotherapeutics had a negative net margin of 123.92% and a negative return on equity of 50.17%. The company had revenue of $71.43 million for the quarter, compared to analysts’ expectations of $77.84 million. During the same quarter in the previous year, the business posted ($0.36) earnings per share. Iovance Biotherapeutics’s quarterly revenue was up 44.9% on a year-over-year basis. On average, equities analysts predict that Iovance Biotherapeutics will post -0.6 EPS for the current year.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.