Iovance Biotherapeutics Inc (IOVA) Receives Average Rating of “Buy” from Analysts

Shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) have been assigned an average recommendation of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $23.75.

A number of analysts have recently commented on the company. BidaskClub cut Iovance Biotherapeutics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Zacks Investment Research upgraded Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Wednesday, October 17th. HC Wainwright restated a “buy” rating and issued a $26.00 price objective (up from $22.00) on shares of Iovance Biotherapeutics in a research report on Friday, October 12th. Finally, Citigroup boosted their price objective on Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, October 12th.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dupont Capital Management Corp purchased a new stake in shares of Iovance Biotherapeutics during the third quarter worth approximately $314,000. C WorldWide Group Holding A S increased its position in shares of Iovance Biotherapeutics by 3.9% during the third quarter. C WorldWide Group Holding A S now owns 400,603 shares of the biotechnology company’s stock worth $4,507,000 after purchasing an additional 15,157 shares in the last quarter. Cheyne Capital Management UK LLP purchased a new stake in shares of Iovance Biotherapeutics during the third quarter worth approximately $4,500,000. Wells Fargo & Company MN increased its position in shares of Iovance Biotherapeutics by 91.4% during the third quarter. Wells Fargo & Company MN now owns 158,458 shares of the biotechnology company’s stock worth $1,783,000 after purchasing an additional 75,671 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Iovance Biotherapeutics by 3.7% during the third quarter. Victory Capital Management Inc. now owns 2,430,657 shares of the biotechnology company’s stock worth $27,345,000 after purchasing an additional 86,378 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Shares of Iovance Biotherapeutics stock traded down $0.37 on Monday, reaching $9.45. The company’s stock had a trading volume of 796,542 shares, compared to its average volume of 1,176,200. The stock has a market capitalization of $938.72 million, a PE ratio of -6.70 and a beta of 3.03. Iovance Biotherapeutics has a 52-week low of $7.13 and a 52-week high of $19.90.

About Iovance Biotherapeutics

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.

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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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