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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.00.

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

Iovance Biotherapeutics Trading Up 3.2 %

Shares of Iovance Biotherapeutics stock opened at $7.40 on Thursday. Iovance Biotherapeutics has a 12 month low of $7.05 and a 12 month high of $18.33. The stock’s fifty day moving average price is $9.02 and its 200-day moving average price is $9.26. The firm has a market cap of $2.26 billion, a P/E ratio of -4.97 and a beta of 0.55.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.03. The company had revenue of $58.56 million for 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 last year, the company posted ($0.46) earnings per share. Analysts forecast that Iovance Biotherapeutics will post -1.23 earnings per share for the current year.

Insider Activity

In related news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On Iovance Biotherapeutics

Large investors have recently modified their holdings of the business. Perceptive Advisors LLC increased its holdings 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 valued at $207,984,000 after purchasing an additional 6,660,151 shares during the last quarter. Long Focus Capital Management LLC grew its holdings in Iovance Biotherapeutics by 195.1% in 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. Marshall Wace LLP purchased a new stake in Iovance Biotherapeutics in the 2nd quarter valued at $12,929,000. Principal Financial Group Inc. increased its stake in shares of Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after acquiring an additional 1,496,941 shares during the last quarter. Finally, State Street Corp raised its holdings 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 acquiring an additional 576,801 shares during the period. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.