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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have earned an average rating of "Moderate Buy" from the eight research firms that are covering the firm, Marketbeat.com 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 target price among brokers that have issued ratings on the stock in the last year is $22.69.

IOVA has been the topic of a number of recent analyst reports. Piper Sandler lowered their price target on shares of Iovance Biotherapeutics from $10.00 to $7.50 and set a "neutral" rating on the stock in a report on Friday. UBS Group began coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $17.00 target price on the stock. Finally, HC Wainwright reissued a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th.

Iovance Biotherapeutics Stock Down 5.8 %

IOVA traded down $0.36 on Monday, hitting $5.85. The company's stock had a trading volume of 9,075,470 shares, compared to its average volume of 8,486,670. Iovance Biotherapeutics has a 12 month low of $5.57 and a 12 month high of $18.33. The firm has a market cap of $1.78 billion, a P/E ratio of -3.93 and a beta of 0.57. The company's 50 day simple moving average is $7.41 and its 200-day simple moving average is $9.01.

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Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.03. The firm had revenue of $58.56 million during the quarter, compared to analyst estimates of $53.54 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. During the same period last year, the company earned ($0.46) earnings per share. Equities analysts predict 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 firm's stock in a transaction dated 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 trade represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Iovance Biotherapeutics in the 4th quarter worth approximately $515,000. Barclays PLC raised its stake in shares of Iovance Biotherapeutics by 118.8% during the third 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. lifted its holdings in shares of Iovance Biotherapeutics by 59.0% in 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 last quarter. Intech Investment Management LLC purchased a new stake in shares of Iovance Biotherapeutics in the 3rd quarter valued at $920,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at $12,927,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

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.