Iovance Biotherapeutics (NASDAQ:IOVA) Earns Buy Rating from HC Wainwright

Iovance Biotherapeutics (NASDAQ:IOVA)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $32.00 price target on the biotechnology company’s stock.

Separately, Piper Sandler dropped their price objective on shares of Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.07.

Iovance Biotherapeutics Price Performance

IOVA opened at $5.26 on Friday. The business has a fifty day moving average price of $6.27 and a 200 day moving average price of $8.62. Iovance Biotherapeutics has a 12 month low of $5.05 and a 12 month high of $18.33. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -3.53 and a beta of 0.53.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced 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%. On average, research analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC lifted its position in shares of Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after buying an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Iovance Biotherapeutics during the 4th quarter worth $36,000. GF Fund Management CO. LTD. acquired a new stake in Iovance Biotherapeutics during the 4th quarter worth $47,000. One68 Global Capital LLC purchased a new stake in Iovance Biotherapeutics in the fourth quarter valued at $74,000. Finally, Quarry LP acquired a new position in Iovance Biotherapeutics in the fourth quarter valued at $74,000. 77.03% of the stock is currently 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.