Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.77 and last traded at $5.78, with a volume of 16742751 shares changing hands. The stock had previously closed at $6.40.
Analysts Set New Price Targets
A number of analysts recently commented on the company. UBS Group began coverage on 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 price target 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's stock. Based on data from MarketBeat, Iovance Biotherapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $23.00.
Check Out Our Latest Stock Analysis on IOVA
Iovance Biotherapeutics Stock Up 1.9 %
The company has a 50-day moving average price of $8.41 and a two-hundred day moving average price of $9.21. The company has a market capitalization of $1.80 billion, a PE ratio of -3.95 and a beta of 0.57.
Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.03. The firm had revenue of $58.56 million for the quarter, compared to the consensus estimate of $53.54 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. During the same period in the prior year, the firm posted ($0.46) earnings per share. As a group, equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current fiscal year.
Insider Activity
In other news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 12.10% of the company's stock.
Institutional Investors Weigh In On Iovance Biotherapeutics
A number of large investors have recently added to or reduced their stakes in IOVA. Quest Partners LLC grew its holdings in shares of Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company's stock valued at $40,000 after purchasing an additional 4,629 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Iovance Biotherapeutics in the 2nd quarter worth approximately $58,000. Daiwa Securities Group Inc. grew its stake in shares of Iovance Biotherapeutics by 754.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company's stock worth $71,000 after acquiring an additional 7,781 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in Iovance Biotherapeutics during the 3rd quarter valued at about $89,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 buying an additional 2,624 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company's stock.
Iovance Biotherapeutics Company Profile
(
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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