Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $5.50 and last traded at $5.50, with a volume of 3928988 shares. The stock had previously closed at $5.69.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on IOVA shares. Piper Sandler lowered their price objective on Iovance Biotherapeutics from $10.00 to $7.50 and set a "neutral" rating on the stock in a report on Friday, January 31st. HC Wainwright reaffirmed a "buy" rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. Finally, UBS Group initiated coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a "buy" rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $22.69.
Check Out Our Latest Report on IOVA
Iovance Biotherapeutics Price Performance
The business's 50 day moving average is $6.72 and its 200 day moving average is $8.79. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -3.74 and a beta of 0.53.
Hedge Funds Weigh In On Iovance Biotherapeutics
A number of institutional investors and hedge funds have recently modified their holdings of IOVA. AlphaQuest LLC boosted its stake in Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock valued at $34,000 after acquiring an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at about $36,000. One68 Global Capital LLC purchased a new position in Iovance Biotherapeutics during the fourth quarter worth about $74,000. Quarry LP purchased a new position in Iovance Biotherapeutics during the fourth quarter worth about $74,000. Finally, Integrity Wealth Advisors Inc. purchased a new position in Iovance Biotherapeutics during the fourth quarter worth about $77,000. Institutional investors and hedge funds own 77.03% of the company's stock.
About Iovance Biotherapeutics
(
Get Free Report)
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.
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