Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $22.33 Average Price Target from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $22.33.

IOVA has been the topic of a number of recent research reports. UBS Group initiated coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $17.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $7.96 on Friday. Iovance Biotherapeutics has a 52 week low of $6.38 and a 52 week high of $18.33. The stock has a 50 day moving average price of $9.68 and a two-hundred day moving average price of $9.36. The stock has a market capitalization of $2.43 billion, a PE ratio of -5.34 and a beta of 0.55.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $58.56 million during the quarter, compared to analysts’ expectations of $53.54 million. During the same quarter last year, the firm posted ($0.46) earnings per share. Research analysts forecast that Iovance Biotherapeutics will post -1.23 EPS for the current year.

Insider Buying and Selling

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the sale, the director now directly owns 7,500 shares in the company, valued at $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Iovance Biotherapeutics

Hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in shares of Iovance Biotherapeutics in the third quarter valued at $920,000. Marshall Wace LLP bought a new stake in shares of Iovance Biotherapeutics in the second quarter valued at $12,929,000. Victory Capital Management Inc. raised its stake in shares of Iovance Biotherapeutics by 399.4% in the third quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock valued at $1,355,000 after buying an additional 115,387 shares during the period. Magnetar Financial LLC purchased a new position in shares of Iovance Biotherapeutics in the second quarter valued at $661,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Iovance Biotherapeutics in the second quarter valued at $2,065,000. 77.03% of the stock is currently owned by institutional investors.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.