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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been given a consensus recommendation of “Hold” by the fifteen brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $11.10.

Several research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research report on Wednesday, October 8th. HC Wainwright dropped their price target on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Barclays increased their price target on shares of Iovance Biotherapeutics from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Chardan Capital lowered their price target on Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds have recently modified their holdings of the stock. Invenomic Capital Management LP bought a new position in Iovance Biotherapeutics during the 1st quarter worth $18,281,000. Palo Alto Investors LP boosted its position in shares of Iovance Biotherapeutics by 122.1% in the third quarter. Palo Alto Investors LP now owns 7,618,132 shares of the biotechnology company’s stock valued at $16,531,000 after acquiring an additional 4,188,803 shares during the period. Long Focus Capital Management LLC grew its stake in shares of Iovance Biotherapeutics by 80.2% in the first quarter. Long Focus Capital Management LLC now owns 9,250,055 shares of the biotechnology company’s stock valued at $30,803,000 after acquiring an additional 4,118,055 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Iovance Biotherapeutics by 202.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock worth $19,239,000 after acquiring an additional 3,869,617 shares during the period. Finally, Bank of America Corp DE increased its position in Iovance Biotherapeutics by 55.8% during the third quarter. Bank of America Corp DE now owns 6,279,230 shares of the biotechnology company’s stock worth $13,626,000 after acquiring an additional 2,249,662 shares during the period. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 12.0%

Iovance Biotherapeutics stock opened at $2.52 on Thursday. The company has a fifty day simple moving average of $2.25 and a 200 day simple moving average of $2.26. Iovance Biotherapeutics has a 1-year low of $1.64 and a 1-year high of $8.15. The company has a market cap of $1.00 billion, a P/E ratio of -2.10 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. Iovance Biotherapeutics had a negative return on equity of 55.24% and a negative net margin of 158.78%.The company had revenue of $67.46 million during the quarter, compared to analysts’ expectations of $76.20 million. On average, equities research analysts forecast that Iovance Biotherapeutics will post -1.24 EPS for the current year.

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.