Iovance Biotherapeutics (NASDAQ:IOVA) Given New $7.50 Price Target at Piper Sandler

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

A number of other research analysts have also recently commented on IOVA. UBS Group started coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $17.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. 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 company. According to MarketBeat.com, Iovance Biotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $22.69.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $5.85 on Friday. Iovance Biotherapeutics has a 1 year low of $5.57 and a 1 year high of $18.33. The company’s 50 day simple moving average is $7.41 and its 200 day simple moving average is $9.01.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. During the same quarter last year, the company posted ($0.46) EPS. Equities analysts anticipate that Iovance Biotherapeutics will post -1.23 EPS for the current year.

Insider Buying and Selling at Iovance Biotherapeutics

In other news, Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total value of $503,000.00. Following the transaction, the director now owns 7,500 shares in the company, valued at approximately $75,450. The trade was a 86.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently added to or reduced their stakes in IOVA. ORG Wealth Partners LLC bought a new position in shares of Iovance Biotherapeutics during the 3rd quarter worth about $89,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Iovance Biotherapeutics by 31.4% during the 3rd 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 during the period. Impact Partnership Wealth LLC bought a new position in Iovance Biotherapeutics in the fourth quarter worth approximately $83,000. Clear Creek Financial Management LLC acquired a new stake in Iovance Biotherapeutics in the fourth quarter valued at approximately $91,000. Finally, KBC Group NV increased its holdings in shares of Iovance Biotherapeutics by 105.7% during the fourth quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 6,321 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors.

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.