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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $23.00.

A number of equities research analysts recently weighed in on IOVA shares. UBS Group started coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $17.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th.

Iovance Biotherapeutics Price Performance

Shares of IOVA traded up $0.14 during mid-day trading on Monday, reaching $6.21. The company had a trading volume of 6,438,084 shares, compared to its average volume of 9,272,083. Iovance Biotherapeutics has a twelve month low of $5.57 and a twelve month high of $18.33. The company's 50-day moving average is $7.50 and its 200-day moving average is $9.05. The company has a market capitalization of $1.89 billion, a P/E ratio of -4.17 and a beta of 0.57.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly 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 analysts' expectations of $53.54 million. During the same period last year, the firm posted ($0.46) EPS. As a group, equities analysts expect that Iovance Biotherapeutics will post -1.23 EPS for the current fiscal year.

Insider Buying and Selling at Iovance Biotherapeutics

In other news, Director Ryan D. Maynard sold 50,000 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Impact Partnership Wealth LLC bought a new position in shares of Iovance Biotherapeutics in the 4th quarter worth $83,000. ORG Wealth Partners LLC bought a new position in Iovance Biotherapeutics during the third quarter worth about $89,000. Clear Creek Financial Management LLC bought a new position in Iovance Biotherapeutics during the fourth quarter worth about $91,000. KBC Group NV lifted its holdings in Iovance Biotherapeutics by 105.7% during the fourth quarter. KBC Group NV now owns 12,303 shares of the biotechnology company's stock worth $91,000 after acquiring an additional 6,321 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Iovance Biotherapeutics by 31.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company's stock worth $105,000 after acquiring an additional 2,624 shares in the last quarter. 77.03% of the stock is currently owned by 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.