Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $23.00 Average Target Price from Brokerages

Iovance Biotherapeutics, Inc. (NASDAQ:IOVAGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $23.00.

A number of equities analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th.

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Iovance Biotherapeutics Stock Down 1.8 %

Shares of Iovance Biotherapeutics stock opened at $7.65 on Thursday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -5.13 and a beta of 0.57. The company’s fifty day moving average is $8.90 and its 200 day moving average is $9.25. Iovance Biotherapeutics has a twelve month low of $7.05 and a twelve month high of $18.33.

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

Insider Transactions at Iovance Biotherapeutics

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

Institutional Investors Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quest Partners LLC increased its stake in Iovance Biotherapeutics by 1,237.7% in the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 4,629 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Iovance Biotherapeutics in the 2nd quarter worth approximately $58,000. Daiwa Securities Group Inc. raised its position in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 7,781 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Iovance Biotherapeutics during the 3rd quarter worth $89,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Iovance Biotherapeutics by 31.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 2,624 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Company Profile

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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.

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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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