Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 7.3% - Time to Buy?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s stock price traded up 7.3% during trading on Friday . The stock traded as high as $5.70 and last traded at $5.73. 2,133,652 shares were traded during mid-day trading, a decline of 75% from the average session volume of 8,442,551 shares. The stock had previously closed at $5.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. UBS Group began coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a "buy" rating and a $17.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. Finally, Piper Sandler cut their price target on shares of Iovance Biotherapeutics from $10.00 to $7.50 and set a "neutral" rating on the stock in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.69.

Iovance Biotherapeutics Price Performance

The business's fifty day simple moving average is $6.65 and its 200 day simple moving average is $8.77. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -3.73 and a beta of 0.53.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Neo Ivy Capital Management bought a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at approximately $3,353,000. Stempoint Capital LP bought a new position in Iovance Biotherapeutics during the 4th quarter worth $7,026,000. Shay Capital LLC acquired a new stake in Iovance Biotherapeutics in the fourth quarter worth $188,000. Sherbrooke Park Advisers LLC acquired a new stake in Iovance Biotherapeutics in the fourth quarter worth $141,000. Finally, Raiffeisen Bank International AG bought a new stake in Iovance Biotherapeutics in the fourth quarter valued at $732,000. Institutional investors and hedge funds 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.