Analysts Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Price Target at $23.00

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $23.00.

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

Iovance Biotherapeutics Stock Down 3.1 %

Iovance Biotherapeutics stock opened at $7.17 on Thursday. The company’s 50-day moving average price is $8.76 and its 200-day moving average price is $9.25. The company has a market cap of $2.19 billion, a PE ratio of -4.81 and a beta of 0.57. Iovance Biotherapeutics has a twelve month low of $7.00 and a twelve month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.03. The company had revenue of $58.56 million for the quarter, compared to analysts’ expectations of $53.54 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. During the same period in the previous year, the firm posted ($0.46) earnings per share. As a group, sell-side analysts expect that Iovance Biotherapeutics will post -1.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total value of $503,000.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at $75,450. This represents a 86.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.10% of the stock is currently owned by insiders.

Institutional Trading of Iovance Biotherapeutics

A number of large investors have recently modified their holdings of the company. Perceptive Advisors LLC grew its holdings in 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 acquiring an additional 6,660,151 shares in the last quarter. State Street Corp lifted its position in shares of Iovance Biotherapeutics by 4.6% in the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock worth $123,967,000 after purchasing an additional 576,801 shares during the period. Long Focus Capital Management LLC boosted its stake in shares of Iovance Biotherapeutics by 195.1% during the second quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock valued at $33,139,000 after purchasing an additional 2,731,688 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after buying an additional 1,496,941 shares during the period. Finally, Hood River Capital Management LLC raised its stake in Iovance Biotherapeutics by 4.1% in the second quarter. Hood River Capital Management LLC now owns 2,732,427 shares of the biotechnology company’s stock worth $21,914,000 after buying an additional 108,189 shares in the last quarter. 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.