Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Down 1.7%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVAGet Free Report)’s share price fell 1.7% during mid-day trading on Friday . The stock traded as low as $14.98 and last traded at $15.10. 1,083,692 shares were traded during mid-day trading, a decline of 89% from the average session volume of 10,089,048 shares. The stock had previously closed at $15.36.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IOVA. The Goldman Sachs Group raised their target price on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Piper Sandler lifted their price target on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Wells Fargo & Company lifted their price target on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, March 1st. JMP Securities lifted their price target on shares of Iovance Biotherapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, February 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and an average target price of $24.64.

Read Our Latest Stock Analysis on IOVA

Iovance Biotherapeutics Trading Down 2.2 %

The stock has a market cap of $4.20 billion, a P/E ratio of -7.99 and a beta of 0.63. The stock’s fifty day moving average price is $11.82 and its 200 day moving average price is $7.81.

Iovance Biotherapeutics (NASDAQ:IOVAGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.01). The firm had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $1.44 million. During the same period in the previous year, the company posted ($0.64) earnings per share. As a group, sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Transactions at Iovance Biotherapeutics

In related news, Director Merrill A. Mcpeak purchased 250,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average price of $9.15 per share, with a total value of $2,287,500.00. Following the transaction, the director now directly owns 320,150 shares in the company, valued at $2,929,372.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC raised its position in Iovance Biotherapeutics by 38.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company’s stock worth $55,000 after buying an additional 934 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Iovance Biotherapeutics by 3.7% during 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 last quarter. Rockefeller Capital Management L.P. increased its position in shares of Iovance Biotherapeutics by 3.8% during 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 last quarter. Diversified Trust Co increased its position in shares of Iovance Biotherapeutics by 12.3% during the 4th quarter. Diversified Trust Co now owns 13,512 shares of the biotechnology company’s stock valued at $110,000 after purchasing an additional 1,481 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Iovance Biotherapeutics by 0.5% during 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 last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

About Iovance Biotherapeutics

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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. 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.

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