Fintel reports that on September 15, 2023, Truist Securities reiterated coverage of Iovance Biotherapeutics (NASDAQ:IOVA) with a Buy recommendation.
Analyst Price Forecast Suggests 439.00% Upside
As of August 31, 2023, the average one-year price target for Iovance Biotherapeutics is $25.04. The forecasts range from a low of $14.14 to a high of $42.00. The average price target represents an increase of 439.00% from its latest reported closing price of $4.64.
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The projected annual revenue for Iovance Biotherapeutics is $23MM, an increase of 9,491.60%. The projected annual non-GAAP EPS is -$2.47.
What is the Fund Sentiment?
There are 413 funds or institutions reporting positions in Iovance Biotherapeutics. This is a decrease of 33 owners or 7.40% in the last quarter. Average portfolio weight of all funds dedicated to IOVA is 0.14%, an increase of 7.71%. Total shares owned by institutions decreased in the last three months by 0.54% to 217,221K shares. The put/call ratio of IOVA is 0.26, indicating a bullish outlook.
What are Other Shareholders Doing?
Perceptive Advisors holds 14,036K shares representing 5.66% ownership of the company. In its prior filing, the firm reported owning 15,340K shares, representing a decrease of 9.29%. The firm increased its portfolio allocation in IOVA by 3.36% over the last quarter.
Mhr Fund Management holds 11,997K shares representing 4.84% ownership of the company. No change in the last quarter.
XBI – SPDR(R) S&P(R) Biotech ETF holds 9,086K shares representing 3.67% ownership of the company. In its prior filing, the firm reported owning 10,157K shares, representing a decrease of 11.78%. The firm increased its portfolio allocation in IOVA by 2.60% over the last quarter.
Point72 Asset Management holds 7,787K shares representing 3.14% ownership of the company. In its prior filing, the firm reported owning 8,800K shares, representing a decrease of 13.01%. The firm decreased its portfolio allocation in IOVA by 2.10% over the last quarter.
Avoro Capital Advisors holds 6,700K shares representing 2.70% ownership of the company. In its prior filing, the firm reported owning 7,020K shares, representing a decrease of 4.78%. The firm increased its portfolio allocation in IOVA by 0.63% over the last quarter.
Iovance Biotherapeutics Background Information(This description is provided by the company.)
Iovance Biotherapeutics aims to improve patient care by making T cell-based immunotherapies broadly accessible for the treatment of patients with solid tumors and blood cancers. Tumor infiltrating lymphocyte (TIL) therapy uses a patient’s own immune cells to attack cancer. TIL cells are extracted from a patient’s own tumor tissue, expanded through a proprietary process, and infused back into the patient. Upon infusion, TIL reach tumor tissue, where they attack cancer cells. The company has completed dosing in pivotal programs in patients with metastatic melanoma and cervical cancer. In addition, the company’s TIL therapy is being investigated in a registration-supporting study for the treatment of patients with locally advanced, recurrent or metastatic non-small cell lung cancer. Clinical studies are also underway to evaluate TIL in earlier stage cancers in combination with currently approved treatments, and to investigate Iovance peripheral blood lymphocyte (PBL) T cell therapy for blood cancers.
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