Iovance Biotherapeutics Inc (NASDAQ:IOVA) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 8,209,829 shares, an increase of 42.7% from the August 15th total of 5,751,642 shares. Currently, 9.3% of the shares of the company are sold short. Based on an average daily volume of 1,274,356 shares, the days-to-cover ratio is presently 6.4 days.
Shares of IOVA stock opened at $13.40 on Friday. Iovance Biotherapeutics has a 12 month low of $6.60 and a 12 month high of $19.90. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -9.50 and a beta of 2.70.
Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Monday, August 6th. The biotechnology company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.02). sell-side analysts expect that Iovance Biotherapeutics will post -1.32 earnings per share for the current fiscal year.
IOVA has been the subject of several recent analyst reports. HC Wainwright set a $22.00 target price on Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Thursday, September 6th. Chardan Capital reiterated a “buy” rating and issued a $30.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, July 6th. BidaskClub upgraded Iovance Biotherapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, May 19th. Finally, Zacks Investment Research downgraded Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, July 12th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Iovance Biotherapeutics currently has an average rating of “Buy” and an average price target of $22.69.
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 Article: Exchange-Traded Funds (ETFs)
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.