Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $21.07.

Several brokerages have recently weighed in on IOVA. UBS Group initiated 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. HC Wainwright reissued a "buy" rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. Finally, Piper Sandler decreased their target price on Iovance Biotherapeutics from $10.00 to $7.50 and set a "neutral" rating for the company in a research report on Friday, January 31st.

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Iovance Biotherapeutics during the fourth quarter worth $515,000. Jennison Associates LLC acquired a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at approximately $493,000. Barclays PLC boosted its stake in shares of Iovance Biotherapeutics by 118.8% during the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company's stock worth $5,677,000 after acquiring an additional 328,284 shares in the last quarter. Principal Financial Group Inc. raised its position in Iovance Biotherapeutics by 59.0% during the third 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 last quarter. Finally, Intech Investment Management LLC purchased a new position in Iovance Biotherapeutics during the third quarter worth $920,000. Hedge funds and other institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock traded up $0.17 during trading hours on Friday, reaching $5.78. 10,890,669 shares of the stock were exchanged, compared to its average volume of 8,530,474. The business's fifty day moving average is $6.48 and its two-hundred day moving average is $8.71. The firm has a market capitalization of $1.76 billion, a P/E ratio of -3.88 and a beta of 0.53. Iovance Biotherapeutics has a 12-month low of $5.05 and a 12-month high of $18.33.

About Iovance Biotherapeutics

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.