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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been given an average recommendation of “Hold” by the eleven research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $9.1111.

A number of brokerages recently weighed in on IOVA. Mizuho boosted their target price on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, August 18th. Barclays increased their price target on shares of Iovance Biotherapeutics from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, September 17th. TD Cowen boosted their price objective on shares of Iovance Biotherapeutics from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Finally, Citizens Jmp lifted their price target on Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th.

Iovance Biotherapeutics Trading Down 4.2%

Iovance Biotherapeutics stock opened at $10.19 on Friday. Iovance Biotherapeutics has a 1-year low of $1.76 and a 1-year high of $10.98. The company has a fifty day simple moving average of $7.25 and a 200 day simple moving average of $5.08. The company has a market cap of $4.62 billion, a P/E ratio of -13.96 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $99.31 million during the quarter, compared to the consensus estimate of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The company’s quarterly revenue was up 65.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.33) EPS. On average, equities research analysts forecast that Iovance Biotherapeutics will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IOVA. Sequoia Financial Advisors LLC grew its stake in shares of Iovance Biotherapeutics by 5.4% in the second quarter. Sequoia Financial Advisors LLC now owns 32,957 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 1,691 shares in the last quarter. GTS Securities LLC grew its position in shares of Iovance Biotherapeutics by 44.6% during the 2nd quarter. GTS Securities LLC now owns 14,461 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 4,457 shares in the last quarter. Orion Investment Co increased its holdings in shares of Iovance Biotherapeutics by 0.3% during the fourth quarter. Orion Investment Co now owns 1,856,934 shares of the biotechnology company’s stock worth $5,069,000 after purchasing an additional 5,150 shares during the period. Flputnam Investment Management Co. increased its holdings in shares of Iovance Biotherapeutics by 27.9% during the fourth quarter. Flputnam Investment Management Co. now owns 25,950 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 5,661 shares during the period. Finally, Mirador Capital Partners LP raised its position in shares of Iovance Biotherapeutics by 0.7% in the second quarter. Mirador Capital Partners LP now owns 1,080,288 shares of the biotechnology company’s stock valued at $4,494,000 after buying an additional 7,052 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. Its platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded in a manufacturing facility and returned to the patient to help recognize and attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.