Iovance Biotherapeutics (NASDAQ:IOVA) Trading Up 3.9% – Time to Buy?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) shot up 3.9% during mid-day trading on Monday . The stock traded as high as $1.73 and last traded at $1.73. 2,981,276 shares changed hands during trading, a decline of 65% from the average session volume of 8,500,804 shares. The stock had previously closed at $1.66.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citizens Jmp cut Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a report on Friday, May 9th. HC Wainwright decreased their price objective on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, May 9th. 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. Mizuho reduced their price objective on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating on the stock in a research note on Monday, May 12th. Finally, Barclays cut their target price on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.30.

Iovance Biotherapeutics Stock Performance

The firm has a 50-day moving average price of $3.09 and a 200-day moving average price of $5.66. The stock has a market cap of $631.80 million, a PE ratio of -1.27 and a beta of 1.06.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). The firm had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company’s revenue for the quarter was up 6795.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. As a group, sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IOVA. Invenomic Capital Management LP purchased a new position in shares of Iovance Biotherapeutics during the 1st quarter valued at about $18,281,000. Long Focus Capital Management LLC lifted its position in shares of Iovance Biotherapeutics by 80.2% during the 1st quarter. Long Focus Capital Management LLC now owns 9,250,055 shares of the biotechnology company’s stock valued at $30,803,000 after buying an additional 4,118,055 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Iovance Biotherapeutics by 202.8% during the 1st 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 valued at $19,239,000 after buying an additional 3,869,617 shares in the last quarter. Man Group plc purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at about $17,871,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at about $11,568,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

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.