Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Average Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $23.00.

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

Get Our Latest Research Report on Iovance Biotherapeutics

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 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 sale, the director now directly owns 7,500 shares in the company, valued at $75,450. This trade represents a 86.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.10% of the company’s stock.

Institutional Trading of Iovance Biotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC boosted its stake in shares of Iovance Biotherapeutics by 118.8% in the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock valued at $5,677,000 after purchasing an additional 328,284 shares in the last quarter. Principal Financial Group Inc. grew its holdings 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 acquiring an additional 1,496,941 shares during the period. Intech Investment Management LLC bought a new stake in shares of Iovance Biotherapeutics in the 3rd quarter valued at about $920,000. State Street Corp boosted its position in shares of Iovance Biotherapeutics by 4.6% during the third 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 in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Iovance Biotherapeutics during the 2nd quarter valued at about $12,929,000. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Stock Down 2.2 %

IOVA stock opened at $7.48 on Thursday. Iovance Biotherapeutics has a fifty-two week low of $7.05 and a fifty-two week high of $18.33. The stock has a market cap of $2.28 billion, a PE ratio of -5.02 and a beta of 0.57. The firm’s 50-day simple moving average is $8.83 and its 200 day simple moving average is $9.26.

Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share 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 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 firm posted ($0.46) earnings per share. Equities analysts forecast that Iovance Biotherapeutics will post -1.23 EPS for the current fiscal year.

About Iovance Biotherapeutics

(Get Free Report

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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