Iovance Biotherapeutics (IOVA) Shares Gap Up to $11.20

Shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) gapped up prior to trading on Wednesday . The stock had previously closed at $11.35, but opened at $11.20. Iovance Biotherapeutics shares last traded at $10.84, with a volume of 26284 shares traded.

IOVA has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, October 12th. HC Wainwright reissued a “buy” rating and issued a $26.00 price target (up from $22.00) on shares of Iovance Biotherapeutics in a research report on Friday, October 12th. Zacks Investment Research lowered shares of Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, July 12th. Chardan Capital reissued a “buy” rating and issued a $30.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, July 6th. Finally, BidaskClub raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $23.06.

The stock has a market capitalization of $1.08 billion, a PE ratio of -7.72 and a beta of 2.72.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Monday, August 6th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). On average, research analysts predict that Iovance Biotherapeutics Inc will post -1.32 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of IOVA. Fred Alger Management Inc. bought a new position in Iovance Biotherapeutics during the second quarter valued at approximately $102,000. Trexquant Investment LP bought a new position in Iovance Biotherapeutics during the second quarter valued at approximately $129,000. Amalgamated Bank bought a new position in Iovance Biotherapeutics during the second quarter valued at approximately $161,000. Xact Kapitalforvaltning AB bought a new position in Iovance Biotherapeutics during the first quarter valued at approximately $174,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Iovance Biotherapeutics by 61.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,918 shares of the biotechnology company’s stock valued at $178,000 after acquiring an additional 5,318 shares in the last quarter. 87.03% of the stock is currently owned by hedge funds and other institutional investors.

About Iovance Biotherapeutics (NASDAQ:IOVA)

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 LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.

Recommended Story: Marijuana Stocks Investing Considerations

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.


Leave a Reply