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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $23.00.

IOVA has been the topic of several recent analyst reports. HC Wainwright reaffirmed 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 assumed coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective on the stock.

Iovance Biotherapeutics Stock Performance

IOVA stock opened at $7.17 on Thursday. Iovance Biotherapeutics has a one year low of $7.00 and a one year high of $18.33. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -4.81 and a beta of 0.57. The firm has a 50-day simple moving average of $8.76 and a two-hundred day simple moving average of $9.25.

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

Insider Transactions at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction that occurred on 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 owns 7,500 shares in the company, valued at approximately $75,450. This represents a 86.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.10% of the company’s stock.

Institutional Trading of Iovance Biotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of IOVA. Barclays PLC raised its holdings in shares of Iovance Biotherapeutics by 118.8% during the third quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock worth $5,677,000 after purchasing an additional 328,284 shares during the last quarter. Principal Financial Group Inc. grew its position in Iovance Biotherapeutics by 59.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after purchasing an additional 1,496,941 shares during the period. Intech Investment Management LLC purchased a new position in shares of Iovance Biotherapeutics during the 3rd quarter valued at about $920,000. State Street Corp lifted its holdings 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 valued at $123,967,000 after buying an additional 576,801 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Iovance Biotherapeutics in the second quarter worth about $12,929,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.