Iovance Biotherapeutics (NASDAQ:IOVA) announced its quarterly earnings results on Tuesday. The biotechnology company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.03), Fidelity Earnings reports.
Shares of IOVA traded up $0.35 during mid-day trading on Wednesday, hitting $9.15. The company’s stock had a trading volume of 1,447,463 shares, compared to its average volume of 1,188,199. Iovance Biotherapeutics has a one year low of $7.13 and a one year high of $19.90. The stock has a market capitalization of $938.72 million, a price-to-earnings ratio of -6.49 and a beta of 3.03.
IOVA has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $26.00 price target (up previously from $22.00) on shares of Iovance Biotherapeutics in a report on Friday, October 12th. Citigroup increased their price target on Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, October 12th. Zacks Investment Research downgraded Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. BidaskClub downgraded Iovance Biotherapeutics from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Finally, ValuEngine downgraded Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. Iovance Biotherapeutics currently has a consensus rating of “Buy” and a consensus price target of $23.75.
Institutional investors and hedge funds have recently bought and sold shares of the company. Fred Alger Management Inc. bought a new stake in shares of Iovance Biotherapeutics in the second quarter valued at approximately $102,000. Trexquant Investment LP bought a new stake in shares of Iovance Biotherapeutics in the second quarter valued at approximately $129,000. Xact Kapitalforvaltning AB bought a new stake in shares of Iovance Biotherapeutics in the first quarter valued at approximately $174,000. Amalgamated Bank bought a new stake in shares of Iovance Biotherapeutics in the second quarter valued at approximately $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Iovance Biotherapeutics by 61.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,918 shares of the biotechnology company’s stock valued at $178,000 after acquiring an additional 5,318 shares during the period. 87.51% of the stock is owned by institutional investors.
TRADEMARK VIOLATION NOTICE: This article was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2018/11/07/iovance-biotherapeutics-iova-issues-quarterly-earnings-results.html.
Iovance Biotherapeutics Company Profile
Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.
Featured Story: Google Finance Portfolio
Receive News & Ratings for Iovance Biotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iovance Biotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.