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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $23.00.

Several brokerages have recently commented on IOVA. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group initiated coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $17.00 price objective for the company.

Insider Activity at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total value of $503,000.00. Following the transaction, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently added to or reduced their stakes in IOVA. Perceptive Advisors LLC boosted its holdings in Iovance Biotherapeutics by 34.6% in the second quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock worth $207,984,000 after acquiring an additional 6,660,151 shares in the last quarter. Long Focus Capital Management LLC lifted its stake in Iovance Biotherapeutics by 195.1% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock valued at $33,139,000 after acquiring an additional 2,731,688 shares in the last quarter. Marshall Wace LLP purchased a new position in Iovance Biotherapeutics during the second quarter worth about $12,929,000. Principal Financial Group Inc. increased its position in shares of Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after acquiring an additional 1,496,941 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock worth $123,967,000 after purchasing an additional 576,801 shares during the period. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $7.48 on Thursday. Iovance Biotherapeutics has a fifty-two week low of $7.05 and a fifty-two week high of $18.33. The firm has a market capitalization of $2.28 billion, a PE ratio of -5.02 and a beta of 0.57. The company’s 50-day moving average is $8.83 and its 200-day moving average is $9.26.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.03. The firm had revenue of $58.56 million for the quarter, compared to analysts’ expectations 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 prior year, the firm earned ($0.46) EPS. As a group, analysts expect that Iovance Biotherapeutics will post -1.23 EPS 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.