Iovance Biotherapeutics (NASDAQ:IOVA) Trading 3.8% Higher – Should You Buy?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price rose 3.8% during mid-day trading on Wednesday . The stock traded as high as $1.76 and last traded at $1.80. Approximately 1,378,265 shares traded hands during trading, a decline of 84% from the average daily volume of 8,647,541 shares. The stock had previously closed at $1.73.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Baird R W cut shares of Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Truist Financial cut shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. UBS Group cut shares of Iovance Biotherapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $17.00 to $2.00 in a research note on Friday, May 16th. 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 objective 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 analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.30.

Iovance Biotherapeutics Stock Performance

The firm’s 50-day moving average price is $2.90 and its two-hundred day moving average price is $5.32. The firm has a market cap of $609.43 million, a PE ratio of -1.22 and a beta of 1.06.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data 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 return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $49.32 million for the quarter, compared to analyst estimates of $83.40 million. During the same period in the prior year, the firm posted ($0.42) earnings per share. The business’s revenue for the quarter was up 6795.1% compared to the same quarter last year. As a group, sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several hedge funds have recently modified their holdings of the company. Barclays PLC boosted its stake in shares of Iovance Biotherapeutics by 118.8% during the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock worth $5,677,000 after acquiring an additional 328,284 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $515,000. KBC Group NV increased its stake in Iovance Biotherapeutics by 105.7% during the fourth quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 6,321 shares during the period. Clear Creek Financial Management LLC acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $91,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Iovance Biotherapeutics by 10.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 64,625 shares of the biotechnology company’s stock worth $478,000 after acquiring an additional 6,249 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.