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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $22.33.

IOVA has been the topic of several recent research reports. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. UBS Group began coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 target price on the stock.

Iovance Biotherapeutics Trading Down 3.9 %

Shares of IOVA opened at $8.59 on Friday. The company’s 50 day simple moving average is $9.74 and its 200-day simple moving average is $9.38. The firm has a market cap of $2.62 billion, a PE ratio of -5.77 and a beta of 0.55. Iovance Biotherapeutics has a 12-month low of $6.00 and a 12-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 (EPS) 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 the consensus estimate 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) EPS. As a group, equities research analysts forecast that Iovance Biotherapeutics will post -1.23 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Intech Investment Management LLC acquired a new stake in Iovance Biotherapeutics during the 3rd quarter worth approximately $920,000. Marshall Wace LLP purchased a new stake in shares of Iovance Biotherapeutics during the 2nd quarter valued at about $12,929,000. Victory Capital Management Inc. lifted its position in Iovance Biotherapeutics by 399.4% during the 3rd quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock worth $1,355,000 after acquiring an additional 115,387 shares in the last quarter. Magnetar Financial LLC purchased a new position in Iovance Biotherapeutics in the 2nd quarter worth approximately $661,000. Finally, Squarepoint Ops LLC acquired a new stake in Iovance Biotherapeutics in the second quarter valued at approximately $2,065,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.