Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $8.06 and last traded at $7.99, with a volume of 24205000 shares changing hands. The stock had previously closed at $7.03.
Wall Street Analyst Weigh In
IOVA has been the subject of a number of recent research reports. Citigroup reissued an “outperform” rating on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. Chardan Capital dropped their price objective on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Citizens Jmp increased their price objective on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. Finally, Mizuho lifted their price target on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.38.
Read Our Latest Stock Report on Iovance Biotherapeutics
Iovance Biotherapeutics Stock Up 13.7%
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The firm had revenue of $198.63 million during the quarter, compared to the consensus estimate of $87.83 million. During the same period last year, the business posted ($0.33) EPS. The business’s revenue was up 65.7% compared to the same quarter last year. On average, research analysts forecast that Iovance Biotherapeutics, Inc. will post -0.5 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Iovance Biotherapeutics
Large investors have recently added to or reduced their stakes in the business. Wedbush Securities Inc. acquired a new position in Iovance Biotherapeutics in the second quarter valued at approximately $605,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Iovance Biotherapeutics by 11.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,646 shares of the biotechnology company’s stock worth $2,191,000 after buying an additional 52,547 shares during the period. Hsbc Holdings PLC grew its position in shares of Iovance Biotherapeutics by 148.1% during the 2nd quarter. Hsbc Holdings PLC now owns 68,190 shares of the biotechnology company’s stock worth $292,000 after buying an additional 40,706 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $531,000. Finally, Palo Alto Investors LP bought a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at $22,032,229,000. Institutional investors and hedge funds own 77.03% of the company’s stock.
Iovance Biotherapeutics Company Profile
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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