Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Lowered to $7.50 at Piper Sandler

Iovance Biotherapeutics (NASDAQ:IOVA - Free Report) had its target price cut by Piper Sandler from $10.00 to $7.50 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the biotechnology company's stock.

Several other research analysts have also recently weighed in on the stock. UBS Group assumed coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $17.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.69.

Iovance Biotherapeutics Trading Up 3.0 %

NASDAQ IOVA traded up $0.17 during mid-day trading on Friday, hitting $5.81. The company's stock had a trading volume of 5,375,096 shares, compared to its average volume of 9,085,361. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -3.90 and a beta of 0.54. The company's 50 day simple moving average is $7.34 and its 200 day simple moving average is $8.99. Iovance Biotherapeutics has a twelve month low of $5.52 and a twelve month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) 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 the consensus estimate of $53.54 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. As a group, research analysts forecast that Iovance Biotherapeutics will post -1.23 EPS for the current year.

Insider Buying and Selling at Iovance Biotherapeutics

In other Iovance Biotherapeutics 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 transaction of $503,000.00. Following the sale, the director now owns 7,500 shares in the company, valued at $75,450. This represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 12.10% of the company's stock.

Institutional Trading of Iovance Biotherapeutics

Institutional investors have recently added to or reduced their stakes in the stock. XML Financial LLC increased its position in shares of Iovance Biotherapeutics by 7.4% during the third quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company's stock valued at $136,000 after buying an additional 1,000 shares during the period. Saturna Capital Corp lifted its stake in Iovance Biotherapeutics by 7.0% in the 3rd quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company's stock worth $193,000 after purchasing an additional 1,353 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Iovance Biotherapeutics by 11.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company's stock valued at $160,000 after purchasing an additional 1,776 shares during the period. Creative Planning grew its position in shares of Iovance Biotherapeutics by 2.6% during the 3rd quarter. Creative Planning now owns 73,489 shares of the biotechnology company's stock valued at $690,000 after purchasing an additional 1,896 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its position in shares of Iovance Biotherapeutics by 10.1% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company's stock valued at $158,000 after purchasing an additional 1,950 shares in the last quarter. Hedge funds and other 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.