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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $22.69.

IOVA has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. Piper Sandler lowered their price target on shares of Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Friday. Finally, UBS Group began coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective on the stock.

Iovance Biotherapeutics Stock Performance

Iovance Biotherapeutics stock opened at $5.85 on Monday. The company has a market capitalization of $1.78 billion, a PE ratio of -3.93 and a beta of 0.57. The company has a 50 day moving average price of $7.41 and a 200-day moving average price of $9.01. Iovance Biotherapeutics has a fifty-two week low of $5.57 and a fifty-two week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share 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 business had revenue of $58.56 million during the quarter, compared to analyst estimates of $53.54 million. During the same period in the previous year, the company posted ($0.46) EPS. On average, analysts forecast that Iovance Biotherapeutics will post -1.23 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total transaction of $503,000.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at approximately $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IOVA. XML Financial LLC increased its holdings in shares of Iovance Biotherapeutics by 7.4% in the third quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 1,000 shares during the period. Saturna Capital Corp increased its holdings in Iovance Biotherapeutics by 7.0% in the 3rd quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company’s stock worth $193,000 after buying an additional 1,353 shares during the period. Exchange Traded Concepts LLC raised its position in Iovance Biotherapeutics by 11.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company’s stock worth $160,000 after buying an additional 1,776 shares during the last quarter. Xponance Inc. lifted its stake in Iovance Biotherapeutics by 13.0% during the 2nd quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock valued at $131,000 after acquiring an additional 1,873 shares during the period. Finally, Creative Planning boosted its holdings in shares of Iovance Biotherapeutics by 2.6% in the 3rd quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock valued at $690,000 after acquiring an additional 1,896 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

About Iovance Biotherapeutics

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.