Iovance Biotherapeutics (NASDAQ:IOVA) Releases Earnings Results, Misses Expectations By $0.09 EPS

Iovance Biotherapeutics (NASDAQ:IOVA) released its earnings results on Thursday. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09), Bloomberg Earnings reports.

Iovance Biotherapeutics stock traded down $1.45 during midday trading on Friday, reaching $23.72. 2,864,462 shares of the company’s stock were exchanged, compared to its average volume of 996,515. Iovance Biotherapeutics has a 52 week low of $7.26 and a 52 week high of $26.59. The company has a current ratio of 20.09, a quick ratio of 20.09 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -18.68 and a beta of 1.81. The firm has a 50-day moving average price of $23.70.

A number of analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Tuesday, July 2nd. Jefferies Financial Group lifted their target price on Iovance Biotherapeutics from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Oppenheimer set a $32.00 target price on Iovance Biotherapeutics and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Robert W. Baird lifted their target price on Iovance Biotherapeutics from $29.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Finally, B. Riley set a $24.00 target price on Iovance Biotherapeutics and gave the company a “buy” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $28.45.

A number of institutional investors have recently bought and sold shares of the stock. Swiss National Bank grew its holdings in Iovance Biotherapeutics by 2.3% during the second quarter. Swiss National Bank now owns 195,200 shares of the biotechnology company’s stock worth $4,786,000 after purchasing an additional 4,400 shares during the period. Candriam Luxembourg S.C.A. bought a new position in Iovance Biotherapeutics during the second quarter worth about $1,172,000. DekaBank Deutsche Girozentrale grew its holdings in Iovance Biotherapeutics by 21.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 109,000 shares of the biotechnology company’s stock worth $2,462,000 after purchasing an additional 19,000 shares during the period. Coastal Investment Advisors Inc. grew its holdings in Iovance Biotherapeutics by 58.4% during the second quarter. Coastal Investment Advisors Inc. now owns 28,575 shares of the biotechnology company’s stock worth $698,000 after purchasing an additional 10,535 shares during the period. Finally, TD Asset Management Inc. grew its holdings in Iovance Biotherapeutics by 51.0% during the second quarter. TD Asset Management Inc. now owns 165,308 shares of the biotechnology company’s stock worth $4,053,000 after purchasing an additional 55,800 shares during the period. Institutional investors and hedge funds own 94.70% of the company’s stock.

About Iovance Biotherapeutics

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 lifileucel, 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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