Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Free Report)’s share price shot up 7.5% during mid-day trading on Tuesday . The company traded as high as $4.35 and last traded at $4.3650. 2,232,895 shares changed hands during trading, a decline of 85% from the average session volume of 14,784,898 shares. The stock had previously closed at $4.06.
Analysts Set New Price Targets
Several equities analysts have commented on IOVA shares. Wall Street Zen upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Monday, April 6th. Citizens Jmp upgraded shares of Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 target price on the stock in a research report on Tuesday, March 3rd. Barclays increased their price target on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Finally, Chardan Capital reduced their price objective on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.43.
Check Out Our Latest Stock Analysis on Iovance Biotherapeutics
Iovance Biotherapeutics Stock Performance
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.19). The business had revenue of $71.43 million during the quarter, compared to the consensus estimate of $77.84 million. Iovance Biotherapeutics had a negative net margin of 123.92% and a negative return on equity of 50.17%. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.36) earnings per share. On average, analysts forecast that Iovance Biotherapeutics, Inc. will post -0.63 EPS for the current year.
Hedge Funds Weigh In On Iovance Biotherapeutics
A number of large investors have recently bought and sold shares of IOVA. Royal Bank of Canada lifted its position in shares of Iovance Biotherapeutics by 161.2% during the first quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company’s stock worth $1,740,000 after purchasing an additional 322,680 shares during the last quarter. AQR Capital Management LLC increased its stake in Iovance Biotherapeutics by 279.0% in the 1st quarter. AQR Capital Management LLC now owns 59,540 shares of the biotechnology company’s stock worth $195,000 after buying an additional 43,829 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Iovance Biotherapeutics by 30.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock valued at $18,554,000 after buying an additional 1,301,846 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in 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. Finally, Envestnet Asset Management Inc. lifted its holdings in Iovance Biotherapeutics by 112.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 47,466 shares of the biotechnology company’s stock valued at $82,000 after buying an additional 25,083 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.
About Iovance Biotherapeutics
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.
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