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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVAGet Rating) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $30.64.

IOVA has been the topic of several research reports. JMP Securities restated a “buy” rating and issued a $25.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, June 8th. The Goldman Sachs Group dropped their target price on shares of Iovance Biotherapeutics from $79.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. Chardan Capital dropped their target price on shares of Iovance Biotherapeutics from $44.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, May 27th. Piper Sandler dropped their price target on shares of Iovance Biotherapeutics from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, May 27th. Finally, Truist Financial dropped their price target on shares of Iovance Biotherapeutics to $20.00 in a research note on Friday, May 27th.

Shares of IOVA stock opened at $9.19 on Wednesday. Iovance Biotherapeutics has a 12-month low of $6.18 and a 12-month high of $28.00. The firm’s 50 day moving average is $12.64 and its 200 day moving average is $15.09. The stock has a market capitalization of $1.44 billion, a P/E ratio of -4.01 and a beta of 0.91.

Iovance Biotherapeutics (NASDAQ:IOVAGet Rating) last issued its earnings results on Thursday, May 5th. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.06. The company had revenue of $12.00 million during the quarter. During the same quarter in the prior year, the company earned ($0.51) EPS. The company’s revenue was up .0% compared to the same quarter last year. On average, analysts predict that Iovance Biotherapeutics will post -2.49 EPS for the current year.

In other news, Director Merrill A. Mcpeak bought 10,000 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were bought at an average price of $6.84 per share, for a total transaction of $68,400.00. Following the purchase, the director now owns 20,150 shares in the company, valued at $137,826. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in IOVA. Dimensional Fund Advisors LP increased its holdings in Iovance Biotherapeutics by 89.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 330,922 shares of the biotechnology company’s stock valued at $8,158,000 after acquiring an additional 156,628 shares during the last quarter. Morgan Stanley increased its holdings in Iovance Biotherapeutics by 33.1% in the 3rd quarter. Morgan Stanley now owns 318,859 shares of the biotechnology company’s stock valued at $7,863,000 after acquiring an additional 79,262 shares during the last quarter. Tudor Investment Corp Et Al bought a new stake in Iovance Biotherapeutics in the 3rd quarter valued at $1,183,000. LPL Financial LLC increased its holdings in Iovance Biotherapeutics by 11.5% in the 3rd quarter. LPL Financial LLC now owns 18,109 shares of the biotechnology company’s stock valued at $447,000 after acquiring an additional 1,865 shares during the last quarter. Finally, UBS Group AG increased its holdings in Iovance Biotherapeutics by 213.8% in the 3rd quarter. UBS Group AG now owns 196,284 shares of the biotechnology company’s stock valued at $4,840,000 after acquiring an additional 133,742 shares during the last quarter. Institutional investors own 99.07% of the company’s stock.

About Iovance Biotherapeutics (Get Rating)

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. It has six ongoing phase 2 clinical studies, including C-144-01, of its lead product candidate, lifileucel, for the treatment of metastatic melanoma; C-145-04, of its product candidate lifileucel for recurrent, metastatic, or persistent cervical cancer; and C-145-03, of its product candidate LN-145, for recurrent and/or metastatic head and neck squamous cell carcinoma.

Featured Articles

Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

Receive News & Ratings for Iovance Biotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iovance Biotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.