Iovance Biotherapeutics (NASDAQ:IOVA) Trading Down 2.2%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price was down 2.2% during trading on Wednesday . The stock traded as low as $8.24 and last traded at $8.26. Approximately 1,290,578 shares changed hands during trading, a decline of 84% from the average daily volume of 7,837,660 shares. The stock had previously closed at $8.45.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IOVA shares. Barclays raised their price target on Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Wells Fargo & Company lifted their target price on Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. JMP Securities cut their target price on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, June 20th. The Goldman Sachs Group lifted their target price on Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Piper Sandler lifted their target price on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.45.

Iovance Biotherapeutics Trading Down 1.2 %

The stock has a 50 day moving average price of $10.08 and a two-hundred day moving average price of $10.78.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The firm had revenue of $0.72 million during the quarter, compared to the consensus estimate of $1.99 million. During the same quarter in the previous year, the company posted ($0.50) earnings per share. The company’s revenue was up 71400.0% compared to the same quarter last year. As a group, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Kennedy Capital Management LLC lifted its holdings in shares of Iovance Biotherapeutics by 52.3% during the third quarter. Kennedy Capital Management LLC now owns 344,042 shares of the biotechnology company’s stock worth $1,565,000 after purchasing an additional 118,133 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Iovance Biotherapeutics by 48.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 130,287 shares of the biotechnology company’s stock worth $1,059,000 after purchasing an additional 42,692 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 8.6% during the third quarter. Vanguard Group Inc. now owns 22,143,470 shares of the biotechnology company’s stock worth $100,753,000 after purchasing an additional 1,748,082 shares during the period. Mariner LLC lifted its holdings in Iovance Biotherapeutics by 107.3% in the third quarter. Mariner LLC now owns 371,850 shares of the biotechnology company’s stock valued at $1,692,000 after acquiring an additional 192,450 shares during the period. Finally, UBS Group AG lifted its holdings in Iovance Biotherapeutics by 255.2% in the fourth quarter. UBS Group AG now owns 857,308 shares of the biotechnology company’s stock valued at $6,970,000 after acquiring an additional 615,920 shares during the period. Institutional investors and hedge funds 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.