Analysts Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Price Target at $23.00

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $23.00.

Several analysts have issued reports on the company. UBS Group started coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a "buy" rating and a $17.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th.

Iovance Biotherapeutics Price Performance

IOVA stock traded up $0.39 during midday trading on Thursday, reaching $7.79. The company had a trading volume of 7,459,575 shares, compared to its average volume of 7,189,960. The firm has a 50-day moving average price of $8.96 and a 200-day moving average price of $9.25. The company has a market capitalization of $2.37 billion, a P/E ratio of -5.23 and a beta of 0.55. Iovance Biotherapeutics has a 1 year low of $7.05 and a 1 year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its earnings results 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. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $58.56 million during the quarter, compared to analyst estimates of $53.54 million. During the same period in the previous year, the business earned ($0.46) earnings per share. On average, equities analysts predict that Iovance Biotherapeutics will post -1.23 EPS for the current year.

Insider Activity at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 7,500 shares in the company, valued at approximately $75,450. This trade represents a 86.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in IOVA. Quest Partners LLC lifted its holdings in Iovance Biotherapeutics by 1,237.7% in the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company's stock worth $40,000 after buying an additional 4,629 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at approximately $58,000. Daiwa Securities Group Inc. boosted its position in shares of Iovance Biotherapeutics by 754.0% during the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company's stock valued at $71,000 after purchasing an additional 7,781 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Iovance Biotherapeutics in the third quarter worth $89,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Iovance Biotherapeutics by 31.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company's stock worth $105,000 after purchasing an additional 2,624 shares in the last quarter. 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.