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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $22.33.

A number of brokerages recently commented on IOVA. HC Wainwright restated 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 report on Thursday, October 24th. They set a “buy” rating and a $17.00 price target on the stock.

Insider Activity at Iovance Biotherapeutics

In other news, Director Ryan D. Maynard sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the completion of the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $75,450. This represents a 86.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in IOVA. ORG Partners LLC acquired a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at $32,000. Quest Partners LLC boosted its stake in Iovance Biotherapeutics by 1,237.7% in the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 4,629 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in Iovance Biotherapeutics in the second quarter valued at $58,000. Daiwa Securities Group Inc. grew its holdings in shares of Iovance Biotherapeutics by 754.0% during the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 7,781 shares during the last quarter. Finally, Abacus Planning Group Inc. acquired a new stake in shares of Iovance Biotherapeutics during the second quarter worth about $82,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Iovance Biotherapeutics stock opened at $8.59 on Friday. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -5.77 and a beta of 0.55. The company’s 50 day simple moving average is $9.74 and its 200-day simple moving average is $9.38. Iovance Biotherapeutics has a 1 year low of $6.00 and a 1 year high of $18.33.

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