Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $23.00 Consensus Target Price from Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have received a consensus rating of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $23.00.

A number of equities analysts recently commented on IOVA shares. UBS Group assumed coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $17.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th.

Iovance Biotherapeutics Stock Down 1.8 %

NASDAQ IOVA opened at $7.65 on Thursday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -5.13 and a beta of 0.57. The company has a 50-day simple moving average of $8.90 and a two-hundred day simple moving average of $9.25. Iovance Biotherapeutics has a 12-month low of $7.05 and a 12-month high of $18.33.

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, topping the consensus estimate 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 firm had revenue of $58.56 million for the quarter, compared to analysts’ expectations of $53.54 million. During the same quarter last year, the business earned ($0.46) earnings per share. Equities analysts expect that Iovance Biotherapeutics will post -1.23 earnings per share for the current fiscal year.

Insider Transactions at Iovance Biotherapeutics

In other 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 transaction of $503,000.00. Following the completion of the sale, the director now owns 7,500 shares of the company’s stock, valued at $75,450. The trade was a 86.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 12.10% of the company’s stock.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of IOVA. Perceptive Advisors LLC boosted its position in shares of 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 purchasing an additional 6,660,151 shares during the period. State Street Corp raised its stake in Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock valued at $123,967,000 after purchasing an additional 576,801 shares during the period. Long Focus Capital Management LLC grew its holdings 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 buying an additional 2,731,688 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 59.0% in the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after buying an additional 1,496,941 shares in the last quarter. Finally, Hood River Capital Management LLC grew its stake in Iovance Biotherapeutics by 4.1% during the second quarter. Hood River Capital Management LLC now owns 2,732,427 shares of the biotechnology company’s stock valued at $21,914,000 after acquiring an additional 108,189 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.