Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Consensus Rating of “Hold” by Analysts

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has received a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.8750.

IOVA has been the topic of a number of recent research reports. Barclays boosted their price objective on Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Wall Street Zen upgraded Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Chardan Capital reduced their price target on Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. UBS Group upped their price target on Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Truist Financial raised shares of Iovance Biotherapeutics to a “hold” rating in a research report on Wednesday, March 25th.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of large investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its position in Iovance Biotherapeutics by 115.2% in the 2nd quarter. Squarepoint Ops LLC now owns 856,569 shares of the biotechnology company’s stock valued at $1,473,000 after buying an additional 458,540 shares during the last quarter. Invenomic Capital Management LP increased its position in shares of Iovance Biotherapeutics by 27.1% during the third quarter. Invenomic Capital Management LP now owns 10,541,608 shares of the biotechnology company’s stock worth $22,875,000 after acquiring an additional 2,246,945 shares during the last quarter. Mirador Capital Partners LP purchased a new stake in shares of Iovance Biotherapeutics during the third quarter worth about $1,118,000. Voss Capital LP acquired a new position in shares of Iovance Biotherapeutics in the second quarter worth about $1,157,000. Finally, Virtus Investment Advisers LLC lifted its stake in shares of Iovance Biotherapeutics by 326.5% in the second quarter. Virtus Investment Advisers LLC now owns 192,378 shares of the biotechnology company’s stock worth $331,000 after acquiring an additional 147,271 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Trading Down 1.7%

Shares of IOVA stock opened at $3.45 on Friday. The company’s fifty day simple moving average is $3.38 and its 200-day simple moving average is $2.70. Iovance Biotherapeutics has a 52 week low of $1.64 and a 52 week high of $5.63. The company has a market cap of $1.42 billion, a PE ratio of -3.08 and a beta of 0.76.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. The firm had revenue of $86.77 million during the quarter, compared to analysts’ expectations of $81.61 million. Equities research analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Iovance Biotherapeutics Company Profile

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.