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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been given an average rating of “Moderate Buy” by the eight analysts that are covering the stock, 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 1 year price target among analysts that have updated their coverage on the stock in the last year is $23.00.

IOVA has been the topic of several recent analyst reports. UBS Group began coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th.

Iovance Biotherapeutics Stock Up 1.0 %

IOVA stock opened at $6.25 on Monday. The business has a fifty day moving average of $7.63 and a 200-day moving average of $9.11. The company has a market cap of $1.90 billion, a P/E ratio of -4.19 and a beta of 0.57. Iovance Biotherapeutics has a twelve month low of $5.57 and a twelve month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced 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 net margin of 451.25% and a negative return on equity of 58.43%. The business had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. During the same period in the prior year, the business posted ($0.46) earnings per share. As a group, equities research analysts anticipate that Iovance Biotherapeutics will post -1.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics stock in a transaction that occurred 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 sale, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $75,450. The trade was a 86.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several large investors have recently bought and sold shares of IOVA. Impact Partnership Wealth LLC bought a new position in Iovance Biotherapeutics during the 4th quarter worth $83,000. ORG Wealth Partners LLC acquired a new stake in shares of Iovance Biotherapeutics in the third quarter valued at about $89,000. Clear Creek Financial Management LLC bought a new position in shares of Iovance Biotherapeutics during the fourth quarter worth about $91,000. KBC Group NV boosted its holdings in Iovance Biotherapeutics by 105.7% in the fourth quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 6,321 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Iovance Biotherapeutics by 31.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock valued at $105,000 after purchasing an additional 2,624 shares during the period. 77.03% of the stock is currently owned by institutional investors.

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.