Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $23.00.

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

Insider Activity at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total value of $503,000.00. Following the completion of the sale, the director now owns 7,500 shares in the company, valued at approximately $75,450. This trade represents a 86.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several institutional investors have recently modified their holdings of IOVA. ORG Wealth Partners LLC purchased a new position in Iovance Biotherapeutics in the third quarter valued at about $89,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Iovance Biotherapeutics by 31.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock valued at $105,000 after purchasing an additional 2,624 shares during the last quarter. Impact Partnership Wealth LLC bought a new position in Iovance Biotherapeutics during the fourth quarter valued at $83,000. Clear Creek Financial Management LLC purchased a new stake in Iovance Biotherapeutics in the fourth quarter worth $91,000. Finally, KBC Group NV raised its stake in shares of Iovance Biotherapeutics by 105.7% in the fourth quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock valued at $91,000 after buying an additional 6,321 shares during the period. 77.03% of the stock is owned by institutional investors.

Iovance Biotherapeutics Stock Performance

Shares of IOVA stock opened at $6.25 on Monday. Iovance Biotherapeutics has a fifty-two week low of $5.57 and a fifty-two week high of $18.33. The stock has a 50 day simple moving average of $7.63 and a two-hundred day simple moving average of $9.11. The company has a market cap of $1.90 billion, a P/E ratio of -4.19 and a beta of 0.57.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $58.56 million for the quarter, compared to the consensus estimate of $53.54 million. During the same quarter in the previous year, the company earned ($0.46) EPS. On average, research analysts predict that Iovance Biotherapeutics will post -1.23 earnings per share for the current year.

Iovance Biotherapeutics Company Profile

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.