Q3 Earnings Estimate for IOVA Issued By HC Wainwright

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) – Stock analysts at HC Wainwright issued their Q3 2024 earnings per share estimates for Iovance Biotherapeutics in a research note issued to investors on Tuesday, November 5th. HC Wainwright analyst J. Pantginis forecasts that the biotechnology company will post earnings of ($0.32) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $32.00 price target on the stock. The consensus estimate for Iovance Biotherapeutics’ current full-year earnings is ($1.26) per share. HC Wainwright also issued estimates for Iovance Biotherapeutics’ Q4 2024 earnings at ($0.28) EPS.

Several other research firms have also weighed in on IOVA. Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $19.00 to $10.00 in a research report on Monday, July 29th. UBS Group assumed coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Iovance Biotherapeutics Stock Up 1.2 %

NASDAQ IOVA opened at $12.28 on Friday. Iovance Biotherapeutics has a twelve month low of $3.76 and a twelve month high of $18.33. The firm has a market capitalization of $3.44 billion, a PE ratio of -7.35 and a beta of 0.60. The stock’s 50 day moving average is $10.21 and its 200 day moving average is $9.84.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.01. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The company had revenue of $31.11 million for the quarter, compared to analyst estimates of $24.59 million. During the same period in the previous year, the company posted ($0.47) earnings per share. The firm’s revenue was up 12969.7% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IOVA. GSA Capital Partners LLP purchased a new position in shares of Iovance Biotherapeutics in the first quarter worth $907,000. Oppenheimer & Co. Inc. purchased a new position in shares of Iovance Biotherapeutics in the first quarter worth $246,000. Sei Investments Co. raised its stake in shares of Iovance Biotherapeutics by 33.9% in the first quarter. Sei Investments Co. now owns 333,148 shares of the biotechnology company’s stock worth $4,937,000 after purchasing an additional 84,382 shares during the last quarter. US Bancorp DE raised its stake in shares of Iovance Biotherapeutics by 113.8% in the first quarter. US Bancorp DE now owns 31,557 shares of the biotechnology company’s stock worth $468,000 after purchasing an additional 16,800 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Iovance Biotherapeutics by 14.5% in the first quarter. ProShare Advisors LLC now owns 62,210 shares of the biotechnology company’s stock worth $922,000 after purchasing an additional 7,891 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.