Iovance Biotherapeutics, Inc. Expected to Earn FY2024 Earnings of ($1.57) Per Share (NASDAQ:IOVA)

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) – Analysts at Zacks Research dropped their FY2024 earnings estimates for Iovance Biotherapeutics in a report issued on Monday, April 15th. Zacks Research analyst S. Ganoria now expects that the biotechnology company will earn ($1.57) per share for the year, down from their prior forecast of ($1.56). The consensus estimate for Iovance Biotherapeutics’ current full-year earnings is ($1.40) per share.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.01). The company had revenue of $0.48 million for the quarter, compared to the consensus estimate of $1.44 million. During the same quarter last year, the business posted ($0.64) EPS.

Other analysts have also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Thursday, February 29th. Barclays increased their price objective on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research note on Friday, February 2nd. Chardan Capital increased their price objective on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group increased their price objective on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $24.64.

Iovance Biotherapeutics Trading Down 1.0 %

IOVA stock traded down $0.12 during midday trading on Wednesday, reaching $11.80. 3,136,879 shares of the company’s stock traded hands, compared to its average volume of 8,879,888. Iovance Biotherapeutics has a 52-week low of $3.21 and a 52-week high of $18.33. The stock has a market cap of $3.30 billion, a P/E ratio of -6.34 and a beta of 0.62. The stock’s 50-day moving average is $13.70 and its 200 day moving average is $8.82.

Insider Activity at Iovance Biotherapeutics

In related news, Director Merrill A. Mcpeak acquired 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average price of $9.15 per share, for a total transaction of $2,287,500.00. Following the acquisition, the director now directly owns 320,150 shares of the company’s stock, valued at approximately $2,929,372.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. MHR Fund Management LLC purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $76,661,000. Perceptive Advisors LLC grew its position in shares of Iovance Biotherapeutics by 53.8% in the 1st quarter. Perceptive Advisors LLC now owns 15,339,735 shares of the biotechnology company’s stock worth $93,726,000 after buying an additional 5,367,955 shares during the last quarter. State Street Corp boosted its stake in Iovance Biotherapeutics by 71.9% in the 2nd quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company’s stock worth $129,949,000 after purchasing an additional 4,925,025 shares in the last quarter. BlackRock Inc. boosted its stake in Iovance Biotherapeutics by 36.5% in the 2nd quarter. BlackRock Inc. now owns 17,001,791 shares of the biotechnology company’s stock worth $119,693,000 after purchasing an additional 4,545,129 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Iovance Biotherapeutics by 374.2% in the 4th quarter. Morgan Stanley now owns 4,969,869 shares of the biotechnology company’s stock worth $31,757,000 after purchasing an additional 3,921,869 shares in the last quarter. Hedge funds and other 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.