Iovance Biotherapeutics (NASDAQ:IOVA) Sees Strong Trading Volume – What’s Next?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) saw unusually-high trading volume on Monday . Approximately 9,851,325 shares traded hands during trading, an increase of 20% from the previous session’s volume of 8,217,428 shares.The stock last traded at $1.83 and had previously closed at $1.75.

Wall Street Analyst Weigh In

IOVA has been the subject of several research reports. Citizens Jmp lowered shares of Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a research report on Friday. Baird R W lowered shares of Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday. The Goldman Sachs Group dropped their price objective on shares of Iovance Biotherapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Monday. Piper Sandler dropped their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Finally, HC Wainwright dropped their price objective on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.80.

Iovance Biotherapeutics Stock Up 12.2%

The business’s 50-day simple moving average is $3.36 and its 200 day simple moving average is $6.07. The firm has a market capitalization of $655.51 million, a P/E ratio of -1.30 and a beta of 1.06.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results 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 business had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. During the same quarter in the previous year, the business earned ($0.42) earnings per share. The firm’s revenue was up 6795.1% on a year-over-year basis. Sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AlphaQuest LLC grew its holdings in shares of Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Iovance Biotherapeutics in the fourth quarter worth approximately $36,000. GF Fund Management CO. LTD. bought a new position in shares of Iovance Biotherapeutics in the fourth quarter worth approximately $47,000. Quarry LP bought a new position in shares of Iovance Biotherapeutics in the fourth quarter worth approximately $74,000. Finally, One68 Global Capital LLC bought a new position in shares of Iovance Biotherapeutics in the fourth quarter worth approximately $74,000. Institutional investors own 77.03% of the company’s stock.

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.