Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $21.07.

Several analysts have weighed in on IOVA shares. Piper Sandler cut their price objective on Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, January 31st. UBS Group initiated coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th.

Iovance Biotherapeutics Trading Down 0.7 %

Shares of NASDAQ:IOVA opened at $5.61 on Friday. The stock’s 50-day moving average price is $6.48 and its 200-day moving average price is $8.71. The stock has a market capitalization of $1.71 billion, a P/E ratio of -3.77 and a beta of 0.53. Iovance Biotherapeutics has a 12-month low of $5.05 and a 12-month high of $18.33.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds have recently made changes to their positions in IOVA. Man Group plc bought a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $17,871,000. Assenagon Asset Management S.A. bought a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $12,927,000. Raymond James Financial Inc. bought a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $11,568,000. Principal Financial Group Inc. lifted its position in 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 valued at $37,872,000 after acquiring an additional 1,496,941 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $8,365,000. 77.03% of the stock is 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.