We recently published a list of the 11 Most Promising Penny Stocks According to Analysts. In this article, we are going to take a look at where Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) stands against other promising penny stocks.

Solus’ Dan Greenhaus, and Invesco’s Brian Levitt together appeared on CNBC’s ‘Closing Bell’ on April 15 to talk about tariffs, market uncertainty, and risk concerns. The discussion started with Dan Greenhaus expressing his belief that many worst-case scenarios are already priced into the market. He acknowledged that he’s cautious but not overly worried. He pointed out recent events, like the exemptions on auto part imports and the 90-day delay on tariff implementation, as evidence that President Trump is listening to advisors and avoiding pushing toward extreme outcomes. Greenhaus attributed these actions to the rebound seen in the stock market. At the same time, he agreed that the administration has been rather inconsistent, in the context of Morgan Stanley’s comment that investors should prepare for more inconsistencies. But he argued that many investors are assuming scenarios closer to the worst rather than the best. He emphasized that while frightening predictions about skyrocketing prices are taking over media right now, these scenarios are unlikely to materialize.

Brian Levitt built on Greenhaus’ optimism while acknowledging the ongoing uncertainty as well. He attributed this uncertainty to the reliance on decisions from the White House rather than traditional policy mechanisms. He compared the current situation to 2018 when markets fell 20% in a quarter before rebounding due to trade pauses and Fed intervention. He cautioned that the current S&P 500 multiples are not at recession levels so there are potential downside risks if uncertainty remains. While Levitt thinks that business investment and consumer confidence metrics show signs of prolonged volatility, Greenhaus further emphasizes that periods of heightened uncertainty often end up presenting long-term investment opportunities. He acknowledged risks such as sudden tariff increases but also encouraged investors to take advantage of these moments when risk premiums rise.

Our Methodology

We sifted through the Finviz stock screener to compile a list of the top penny stocks that were trading below $5 and had the highest analysts’ upside potential (at least 40%). The stocks are ranked in ascending order of their upside potential. We have also added the hedge fund sentiment for each stock, as of Q4 2024, which was sourced from Insider Monkey’s database.

Note: All data was sourced on April 15.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

A medical staff in white coats monitoring the progress of cancer immunotherapy trials.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Share Price as of April 15: $3.41

Number of Hedge Fund Holders: 44

Average Upside Potential as of April 15: 486.51%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a commercial-stage biopharmaceutical company that develops and commercializes cell therapies using autologous tumors that infiltrate lymphocytes for the treatment of metastatic melanoma and other solid tumor cancers. It offers Amtagvi, which is a tumor-derived autologous T-cell immunotherapy for treating adult patients with unresectable or metastatic melanoma.

Amtagvi is the company’s first FDA-approved TIL cell therapy for advanced melanoma post-anti-PD-1 treatment. Amtagvi made $103.6 million in revenue for the full year 2024, which was a big portion of the total product revenue of $164.1 million. In Q4 alone, revenue was $73.7 million, with Amtagvi accounting for $48.7 million. For 2025, the company predicts product revenue between $450-475 million, driven by higher demand, more treatment centers, and continuous adoption.

On March 1, analyst Joseph Pantginis from HC Wainwright reiterated a Buy rating on the stock with a $32 price target. More than 200 patients were treated in Amtagvi’s initial launch phase. Iovance’s manufacturing network can now support over 1,200 patients annually. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) established a network of around 70 authorized treatment centers (ATCs) across 32 US states and provides reimbursement access to over 95% of covered lives.

Artisan Small Cap Fund stated the following regarding Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in its first quarter 2024 investor letter:

“Among our top performers in Q1 were Shockwave, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) and Wingstop. 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.”

Overall, IOVA ranks 2nd on our list of the most promising penny stocks according to analysts. While we acknowledge the growth potential of IOVA, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than IOVA but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.