10 Most Shorted Stocks That Are Loved by Analysts

4. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Short Interest Percentage: 22.34%

Average Share Price Target: $25.92

Share Price Upside: 224%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a biotechnology firm that focuses on making cancer treatments. Like other biotechnology firms, its fate depends on the commercial success of its treatments. On this front, the shares soared by 72% in February 2024, after the FDA approved Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s treatment for skin cancer. This treatment, called Amtagvi, was at the center of even better news in May 2024 when Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) announced that 15 out of 23 patients in a trial responded favorably to the drug. This was big news since Amtagvi is designed to be used in patients that have already used Merck’s Keytruda for their disease. For Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) , this means that a partnership with Merck might be on the horizon to allow it to expand its market size.

Fund Artisan Partners is also aware of these trends as it mentioned  in its Q1 2024 investor letter and shared:

Iovance Biotherapeutics is a biotechnology company focused on innovating, developing and delivering novel polyclonal tumor infiltrating lymphocyte (TIL) cell therapies for cancer patients. Immuno-oncology remains a key area of drug development, and Iovance is the leader in TIL development and manufacturing, having secured the technology through collaborations with the leading academic institutions in TIL reseach. Shares rallied significantly after the company announced that the FDA approved AMTAGVI™ (lifileucel) for advanced melanoma. We added to the position.