Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Up 4.5% – Should You Buy?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) rose 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.

Analysts Set New Price Targets

A number of research firms recently issued reports on IOVA. Truist Financial lowered their target price on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Chardan Capital lowered their target price on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. The Goldman Sachs Group decreased their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Robert W. Baird cut their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Iovance Biotherapeutics Trading Down 8.2 %

The stock’s 50-day simple moving average is $4.68 and its 200-day simple moving average is $7.38. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -2.18 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $73.69 million for the quarter, compared to analyst estimates of $72.17 million. On average, equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Man Group plc bought a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $17,871,000. Assenagon Asset Management S.A. bought a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at approximately $12,927,000. Raymond James Financial Inc. acquired a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $11,568,000. Principal Financial Group Inc. lifted its stake in Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after purchasing an additional 1,496,941 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth $8,365,000. 77.03% of the stock is owned by institutional investors.

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.