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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $22.33.

IOVA has been the topic of a number of research analyst reports. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $10.00 in a report on Monday, July 29th. 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. Finally, UBS Group initiated coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target on the stock.

Iovance Biotherapeutics Stock Performance

Shares of IOVA opened at $8.18 on Wednesday. Iovance Biotherapeutics has a one year low of $4.33 and a one year high of $18.33. The stock’s fifty day moving average is $10.04 and its 200-day moving average is $9.74. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -5.49 and a beta of 0.60.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted 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 business had revenue of $58.56 million during the quarter, compared to analysts’ expectations 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 firm posted ($0.46) earnings per share. Analysts forecast that Iovance Biotherapeutics will post -1.25 EPS for the current fiscal 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 completion of the sale, the director now owns 7,500 shares of the company’s stock, valued at $75,450. This trade represents a 86.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 12.10% of the company’s stock.

Institutional Trading of Iovance Biotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of IOVA. Perceptive Advisors LLC raised its stake in shares of Iovance Biotherapeutics by 34.6% during the 2nd quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock worth $207,984,000 after purchasing an additional 6,660,151 shares in the last quarter. Vanguard Group Inc. lifted its stake in Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock valued at $369,245,000 after acquiring an additional 2,102,480 shares during the last quarter. State Street Corp grew its position in Iovance Biotherapeutics by 4.6% in the third 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 in the last quarter. Avoro Capital Advisors LLC increased its stake in shares of Iovance Biotherapeutics by 74.6% during the 1st quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock worth $173,394,000 after purchasing an additional 5,000,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Iovance Biotherapeutics by 60.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock valued at $78,071,000 after purchasing an additional 1,991,262 shares in the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

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.