Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Lowered to $18.00 at Barclays

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target reduced by Barclays from $40.00 to $18.00 in a report released on Monday, Marketbeat.com reports. Barclays currently has an overweight rating on the biotechnology company’s stock.

IOVA has been the subject of several other research reports. Chardan Capital restated a buy rating and issued a $29.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, August 16th. Robert W. Baird reduced their price objective on shares of Iovance Biotherapeutics from $23.00 to $20.00 in a research note on Wednesday, August 9th. StockNews.com upgraded shares of Iovance Biotherapeutics to a sell rating in a research note on Friday, September 8th. JMP Securities reiterated a market outperform rating and set a $18.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday. Finally, Wells Fargo & Company upgraded shares of Iovance Biotherapeutics from an equal weight rating to an overweight rating and boosted their price objective for the stock from $11.00 to $17.00 in a research note on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $19.54.

Iovance Biotherapeutics Stock Performance

NASDAQ:IOVA opened at $5.93 on Monday. Iovance Biotherapeutics has a one year low of $4.41 and a one year high of $10.85. The firm has a market cap of $1.47 billion, a P/E ratio of -2.65 and a beta of 0.10. The firm has a 50-day simple moving average of $6.74 and a 200-day simple moving average of $6.92.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.34. The business had revenue of $0.24 million during the quarter, compared to the consensus estimate of $3.91 million. During the same quarter in the prior year, the firm posted ($0.63) EPS. On average, research analysts predict that Iovance Biotherapeutics will post -1.87 EPS for the current fiscal year.

Insider Activity

In other Iovance Biotherapeutics news, Director Wayne P. Rothbaum acquired 5,000,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average cost of $5.30 per share, with a total value of $26,500,000.00. Following the acquisition, the director now directly owns 23,067,333 shares of the company’s stock, valued at $122,256,864.90. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.40% of the company’s stock.

Institutional Trading of Iovance Biotherapeutics

Several large investors have recently made changes to their positions in the business. Lazard Asset Management LLC boosted its holdings in shares of Iovance Biotherapeutics by 38.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 934 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Iovance Biotherapeutics by 3.7% in the 1st quarter. Baird Financial Group Inc. now owns 27,545 shares of the biotechnology company’s stock valued at $459,000 after purchasing an additional 995 shares during the period. Arizona State Retirement System lifted its stake in shares of Iovance Biotherapeutics by 4.3% in the 4th quarter. Arizona State Retirement System now owns 33,395 shares of the biotechnology company’s stock valued at $213,000 after purchasing an additional 1,362 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Iovance Biotherapeutics by 3.8% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 37,758 shares of the biotechnology company’s stock valued at $266,000 after purchasing an additional 1,385 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Iovance Biotherapeutics by 0.5% in the 1st quarter. American Century Companies Inc. now owns 319,310 shares of the biotechnology company’s stock valued at $1,951,000 after purchasing an additional 1,649 shares during the period. 81.85% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Company Profile

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. The company's lead product candidate is lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.