Iovance Biotherapeutics (IOVA) Issues Quarterly Earnings Results

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.

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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.

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Earnings History for Iovance Biotherapeutics (NASDAQ:IOVA)

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