Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $22.33 Consensus PT from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have earned an average rating of "Moderate Buy" from the nine analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $22.33.

A number of equities analysts have recently commented on the stock. UBS Group started coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $17.00 price objective for the company. StockNews.com upgraded shares of Iovance Biotherapeutics to a "sell" rating in a research note on Monday, August 12th. Finally, HC Wainwright reiterated 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 Stock Up 6.6 %

Iovance Biotherapeutics stock traded up $0.56 during mid-day trading on Friday, reaching $9.03. The company had a trading volume of 3,846,345 shares, compared to its average volume of 8,493,239. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -6.06 and a beta of 0.55. The company has a 50 day moving average of $9.76 and a 200-day moving average of $9.40. Iovance Biotherapeutics has a 52 week low of $6.00 and a 52 week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $58.56 million during the quarter, compared to the consensus estimate 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 quarter last year, the company earned ($0.46) EPS. On average, analysts predict that Iovance Biotherapeutics will post -1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ryan D. Maynard sold 50,000 shares of the 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 owns 7,500 shares of the company's stock, valued at $75,450. This represents a 86.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 12.10% of the company's stock.

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. SG Americas Securities LLC raised its holdings in shares of Iovance Biotherapeutics by 836.5% during the second quarter. SG Americas Securities LLC now owns 498,390 shares of the biotechnology company's stock worth $3,997,000 after acquiring an additional 445,172 shares during the period. Diversified Trust Co boosted its position in shares of Iovance Biotherapeutics by 9.5% during the second quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company's stock worth $136,000 after buying an additional 1,469 shares during the period. ORG Partners LLC bought a new position in shares of Iovance Biotherapeutics during the second quarter worth about $32,000. Clear Harbor Asset Management LLC bought a new stake in Iovance Biotherapeutics during the 2nd quarter worth about $247,000. Finally, Brookstone Capital Management acquired a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $112,000. 77.03% of the stock is owned by institutional investors.

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.