Analysts Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Price Target at $22.33

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $22.33.

Several research analysts recently issued reports on IOVA shares. UBS Group assumed coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $17.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th.

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 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 transaction, the director now directly owns 7,500 shares in the company, valued at approximately $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in Iovance Biotherapeutics in the third quarter valued at approximately $920,000. Marshall Wace LLP acquired a new stake in shares of Iovance Biotherapeutics in the 2nd quarter worth $12,929,000. Victory Capital Management Inc. grew its stake in Iovance Biotherapeutics by 399.4% during the 3rd quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock worth $1,355,000 after buying an additional 115,387 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Iovance Biotherapeutics in the second quarter valued at about $661,000. Finally, Squarepoint Ops LLC acquired a new stake in Iovance Biotherapeutics in the second quarter worth about $2,065,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

NASDAQ:IOVA opened at $7.83 on Friday. Iovance Biotherapeutics has a fifty-two week low of $6.70 and a fifty-two week high of $18.33. The firm has a market capitalization of $2.39 billion, a PE ratio of -5.25 and a beta of 0.55. The stock’s fifty day moving average is $9.63 and its 200 day moving average is $9.35.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued 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. The firm had revenue of $58.56 million during the quarter, compared to analyst estimates of $53.54 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. During the same period in the previous year, the firm earned ($0.46) earnings per share. Equities analysts forecast that Iovance Biotherapeutics will post -1.23 EPS for the current year.

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.