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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $23.00.

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

Insiders Place Their Bets

In other news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the completion of the sale, the director now owns 7,500 shares of the company’s stock, valued at approximately $75,450. This represents a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in IOVA. Vanguard Personalized Indexing Management LLC increased its stake in shares of Iovance Biotherapeutics by 27.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,085 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 4,726 shares during the period. Ensign Peak Advisors Inc increased its stake in shares of Iovance Biotherapeutics by 13.4% in the second quarter. Ensign Peak Advisors Inc now owns 74,592 shares of the biotechnology company’s stock valued at $598,000 after buying an additional 8,800 shares during the period. Xponance Inc. increased its stake in shares of Iovance Biotherapeutics by 13.0% in the second quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 1,873 shares during the period. Marshall Wace LLP acquired a new stake in shares of Iovance Biotherapeutics in the second quarter valued at about $12,929,000. Finally, Squarepoint Ops LLC acquired a new stake in Iovance Biotherapeutics during the second quarter worth approximately $2,065,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

NASDAQ:IOVA opened at $6.07 on Monday. The stock has a fifty day moving average price of $7.50 and a 200-day moving average price of $9.05. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -4.07 and a beta of 0.57. Iovance Biotherapeutics has a fifty-two week low of $5.57 and a fifty-two week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating 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 firm had revenue of $58.56 million during the quarter, compared to the consensus estimate of $53.54 million. During the same period in the prior year, the company posted ($0.46) EPS. Research analysts predict that Iovance Biotherapeutics will post -1.23 EPS for the current fiscal year.

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.