Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 7.7% – Should You Buy?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) shot up 7.7% on Thursday . The stock traded as high as $7.99 and last traded at $7.97. 2,429,683 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 7,189,960 shares. The stock had previously closed at $7.40.

Analyst Ratings Changes

IOVA has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. UBS Group began coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Iovance Biotherapeutics Stock Performance

The company has a market capitalization of $2.38 billion, a P/E ratio of -5.25 and a beta of 0.55. The business has a fifty day moving average of $9.02 and a 200-day moving average of $9.26.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. The firm had revenue of $58.56 million during the quarter, compared to the consensus estimate of $53.54 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. During the same period in the prior year, the business posted ($0.46) earnings per share. Sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current year.

Insider Activity

In related news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the completion of the sale, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $75,450. This trade represents a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Quest Partners LLC grew its position in shares of Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 4,629 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Iovance Biotherapeutics during the 2nd quarter valued at $58,000. Daiwa Securities Group Inc. grew its stake in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 7,781 shares during the period. ORG Wealth Partners LLC purchased a new stake in Iovance Biotherapeutics in the 3rd quarter worth about $89,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Iovance Biotherapeutics by 31.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock valued at $105,000 after acquiring an additional 2,624 shares during the period. 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.