Iovance Biotherapeutics (IOVA) Hits New 1-Year High at $18.68

Iovance Biotherapeutics Inc (NASDAQ:IOVA) shares reached a new 52-week high on Thursday . The company traded as high as $18.68 and last traded at $17.75, with a volume of 877200 shares. The stock had previously closed at $17.75.

A number of research analysts recently weighed in on IOVA shares. B. Riley boosted their target price on Iovance Biotherapeutics from $17.50 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Oppenheimer set a $13.00 target price on Iovance Biotherapeutics and gave the stock a “buy” rating in a report on Tuesday, October 31st. HC Wainwright set a $16.00 target price on Iovance Biotherapeutics and gave the stock a “buy” rating in a report on Monday, October 30th. Jefferies Group reissued a “buy” rating on shares of Iovance Biotherapeutics in a report on Sunday, October 29th. Finally, FBR & Co reissued a “buy” rating and set a $17.50 target price on shares of Iovance Biotherapeutics in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Iovance Biotherapeutics presently has an average rating of “Buy” and a consensus target price of $18.75.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IOVA. Parametric Portfolio Associates LLC bought a new stake in Iovance Biotherapeutics in the 2nd quarter valued at $125,000. Dynamic Technology Lab Private Ltd bought a new stake in Iovance Biotherapeutics in the 3rd quarter valued at $133,000. Ellington Management Group LLC boosted its stake in Iovance Biotherapeutics by 39.1% in the 4th quarter. Ellington Management Group LLC now owns 19,200 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 5,400 shares during the period. Teacher Retirement System of Texas bought a new stake in Iovance Biotherapeutics in the 4th quarter valued at $154,000. Finally, Jane Street Group LLC bought a new stake in Iovance Biotherapeutics in the 3rd quarter valued at $164,000. Institutional investors and hedge funds own 65.08% of the company’s stock.

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Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, formerly Lion Biotechnologies, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead program is an adoptive cell therapy utilizing tumor-infiltrating lymphocytes, which are T cells derived from patients’ tumors, for the treatment of metastatic melanoma.

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