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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been given an average recommendation of “Moderate Buy” by the nine analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $22.33.

A number of equities analysts have commented on IOVA shares. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $10.00 in a research note on Monday, July 29th. UBS Group started coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th.

Iovance Biotherapeutics Trading Down 4.8 %

IOVA stock opened at $8.18 on Wednesday. Iovance Biotherapeutics has a 1-year low of $4.33 and a 1-year high of $18.33. The firm has a market cap of $2.49 billion, a PE ratio of -5.49 and a beta of 0.60. The business’s 50-day moving average price is $10.04 and its two-hundred day moving average price is $9.71.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data 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. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $58.56 million for the quarter, compared to analysts’ expectations of $53.54 million. During the same quarter in the previous year, the business posted ($0.46) EPS. On average, analysts forecast that Iovance Biotherapeutics will post -1.25 earnings per share for the current year.

Insider Buying and Selling at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics 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 transaction, the director now directly owns 7,500 shares of the company’s stock, valued at $75,450. The trade was a 86.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors have recently added to or reduced their stakes in the stock. XML Financial LLC increased its position in Iovance Biotherapeutics by 7.4% in the third quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock worth $136,000 after buying an additional 1,000 shares during the last quarter. Saturna Capital Corp grew its stake in shares of Iovance Biotherapeutics by 7.0% during the 3rd quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company’s stock worth $193,000 after acquiring an additional 1,353 shares during the period. Diversified Trust Co raised its stake in Iovance Biotherapeutics by 9.5% in the 2nd quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company’s stock valued at $136,000 after acquiring an additional 1,469 shares during the period. Exchange Traded Concepts LLC raised its stake in Iovance Biotherapeutics by 11.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company’s stock valued at $160,000 after acquiring an additional 1,776 shares during the period. Finally, Xponance Inc. boosted its position in Iovance Biotherapeutics by 13.0% during the second quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 1,873 shares during the period. 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.