Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $22.33.

Several research firms recently commented on IOVA. UBS Group started coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. Finally, StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th.

Insider Activity

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the company’s 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 sale, the director now owns 7,500 shares of the company’s stock, valued at approximately $75,450. This represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On Iovance Biotherapeutics

Large investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new stake in shares of Iovance Biotherapeutics in the third quarter valued at about $920,000. Marshall Wace LLP acquired a new position in shares of Iovance Biotherapeutics in the second quarter worth $12,929,000. Victory Capital Management Inc. lifted its position in shares of Iovance Biotherapeutics by 399.4% in the third quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock valued at $1,355,000 after acquiring an additional 115,387 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Iovance Biotherapeutics during the second quarter valued at $661,000. Finally, Squarepoint Ops LLC purchased a new stake in Iovance Biotherapeutics during the 2nd quarter worth about $2,065,000. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA opened at $9.03 on Friday. The company’s fifty day moving average price is $9.76 and its 200 day moving average price is $9.41. The company has a market capitalization of $2.75 billion, a PE ratio of -6.06 and a beta of 0.55. Iovance Biotherapeutics has a 1 year low of $6.00 and a 1 year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $58.56 million during the quarter, compared to the consensus estimate of $53.54 million. During the same period in the prior year, the company posted ($0.46) earnings per share. On average, equities analysts expect that Iovance Biotherapeutics will post -1.23 EPS for the current year.

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.