Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 4.5% – Time to Buy?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was up 4.5% during trading on Wednesday . The company traded as high as $3.32 and last traded at $3.40. Approximately 517,625 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 7,132,940 shares. The stock had previously closed at $3.25.

Analyst Ratings Changes

Several research firms have weighed in on IOVA. Chardan Capital lowered their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Robert W. Baird lowered their price target on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group cut their price objective on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Finally, Piper Sandler cut their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

Iovance Biotherapeutics Trading Up 8.2 %

The company has a market cap of $1.15 billion, a P/E ratio of -2.36 and a beta of 1.05. The company has a 50 day moving average price of $4.78 and a 200-day moving average price of $7.44.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.26). The firm had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. Equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its stake in shares of Iovance Biotherapeutics by 7.3% during the fourth quarter. California State Teachers Retirement System now owns 203,241 shares of the biotechnology company’s stock worth $1,504,000 after buying an additional 13,774 shares during the last quarter. Arcadia Wealth Management Inc. acquired a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at $117,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Iovance Biotherapeutics by 39.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,442 shares of the biotechnology company’s stock valued at $144,000 after acquiring an additional 5,500 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Iovance Biotherapeutics during the 4th quarter worth $47,000. Finally, Neo Ivy Capital Management acquired a new position in Iovance Biotherapeutics in the 4th quarter worth about $3,353,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Company Profile

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.