Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $20.25 Consensus PT from Brokerages

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $20.25.

A number of research analysts recently commented on the company. Chardan Capital lowered their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Truist Financial dropped their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Piper Sandler reduced their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. The Goldman Sachs Group decreased their price target on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, Robert W. Baird dropped their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $3.63 on Tuesday. Iovance Biotherapeutics has a 1-year low of $3.42 and a 1-year high of $15.50. The company’s fifty day simple moving average is $5.08 and its 200-day simple moving average is $7.70. The stock has a market capitalization of $1.19 billion, a PE ratio of -2.44 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). The business 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%. As a group, research analysts anticipate that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IOVA. Vanguard Group Inc. increased its position in Iovance Biotherapeutics by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company’s stock valued at $203,754,000 after acquiring an additional 220,373 shares during the last quarter. State Street Corp grew its holdings in Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock valued at $123,967,000 after purchasing an additional 576,801 shares during the last quarter. Hood River Capital Management LLC raised its position in Iovance Biotherapeutics by 10.4% in the 4th quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock worth $66,538,000 after purchasing an additional 846,936 shares during the period. Geode Capital Management LLC lifted its stake in Iovance Biotherapeutics by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock worth $43,458,000 after purchasing an additional 222,425 shares during the last quarter. Finally, Long Focus Capital Management LLC grew its stake in shares of Iovance Biotherapeutics by 13.2% during the fourth quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company’s stock valued at $37,977,000 after buying an additional 600,000 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.