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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been given an average rating of “Hold” by the ten research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $8.4286.

Several equities research analysts have issued reports on the stock. Truist Financial raised shares of Iovance Biotherapeutics to a “hold” rating in a research note on Wednesday, March 25th. Chardan Capital lowered their target price on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Monday, April 6th. UBS Group lifted 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, Barclays lifted their price target on Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Xponance LLC raised its holdings in shares of Iovance Biotherapeutics by 19.4% during the 4th quarter. Xponance LLC now owns 24,288 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 3,950 shares during the period. Raymond James Financial Inc. raised its holdings in shares of Iovance Biotherapeutics by 1.4% during the 2nd quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company’s stock worth $557,000 after acquiring an additional 4,618 shares during the period. R Squared Ltd raised its holdings in shares of Iovance Biotherapeutics by 41.4% during the 3rd quarter. R Squared Ltd now owns 16,043 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 4,700 shares during the period. Orion Investment Co raised its holdings in shares of Iovance Biotherapeutics by 0.3% during the 4th quarter. Orion Investment Co now owns 1,856,934 shares of the biotechnology company’s stock worth $5,069,000 after acquiring an additional 5,150 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Iovance Biotherapeutics by 37.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,290 shares of the biotechnology company’s stock worth $53,000 after acquiring an additional 5,301 shares during the period. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Down 2.6%

Shares of IOVA opened at $3.78 on Thursday. Iovance Biotherapeutics has a 52-week low of $1.66 and a 52-week high of $5.63. The firm’s fifty day moving average is $3.72 and its two-hundred day moving average is $3.21. The stock has a market cap of $1.69 billion, a PE ratio of -3.98 and a beta of 0.74.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.19). Iovance Biotherapeutics had a negative net margin of 123.92% and a negative return on equity of 50.17%. The company had revenue of $71.43 million for the quarter, compared to analysts’ expectations of $77.84 million. During the same quarter in the previous year, the company posted ($0.36) EPS. The firm’s quarterly revenue was up 44.9% on a year-over-year basis. As a group, research analysts anticipate that Iovance Biotherapeutics will post -0.63 earnings per share for the current 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.