Iovance Biotherapeutics Inc (NASDAQ:IOVA) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 14,260,000 shares, an increase of 6.9% from the August 30th total of 13,340,000 shares. Approximately 12.8% of the shares of the company are sold short. Based on an average trading volume of 1,340,000 shares, the short-interest ratio is presently 10.6 days.
A number of equities analysts have recently issued reports on IOVA shares. Jefferies Financial Group set a $33.00 target price on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research report on Monday, August 26th. B. Riley set a $28.00 price objective on shares of Iovance Biotherapeutics and gave the company a “buy” rating in a research report on Friday, August 16th. ValuEngine lowered shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Piper Jaffray Companies lifted their price objective on shares of Iovance Biotherapeutics from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. Finally, Zacks Investment Research upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $29.00.
Several hedge funds and other institutional investors have recently modified their holdings of IOVA. Tower Research Capital LLC TRC acquired a new position in Iovance Biotherapeutics in the 2nd quarter valued at about $29,000. Aperio Group LLC acquired a new position in Iovance Biotherapeutics in the 2nd quarter valued at about $86,000. Meeder Asset Management Inc. raised its stake in Iovance Biotherapeutics by 453.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 6,356 shares of the biotechnology company’s stock valued at $116,000 after purchasing an additional 5,207 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Iovance Biotherapeutics by 14.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,700 shares of the biotechnology company’s stock valued at $189,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Exane Derivatives acquired a new position in Iovance Biotherapeutics in the 2nd quarter valued at about $191,000. Institutional investors own 98.80% of the company’s stock.
Shares of NASDAQ IOVA traded up $1.24 during trading on Thursday, hitting $19.49. 546,192 shares of the company were exchanged, compared to its average volume of 1,425,014. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -15.35 and a beta of 1.91. Iovance Biotherapeutics has a 1 year low of $7.26 and a 1 year high of $26.59. The firm’s fifty day moving average price is $19.83 and its 200 day moving average price is $18.54. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.15 and a quick ratio of 12.14.
Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.09). On average, research analysts forecast that Iovance Biotherapeutics will post -1.5 earnings per share for the current year.
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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