ValuEngine lowered shares of Iovance Biotherapeutics (NASDAQ:IOVA) from a strong-buy rating to a buy rating in a research note published on Friday.
Other analysts have also issued reports about the company. HC Wainwright reiterated a buy rating and set a $22.00 price objective on shares of Iovance Biotherapeutics in a research note on Tuesday, September 25th. Cowen reiterated a buy rating on shares of Iovance Biotherapeutics in a research note on Tuesday, November 6th. Zacks Investment Research upgraded Iovance Biotherapeutics from a hold rating to a buy rating and set a $12.00 price objective on the stock in a research note on Wednesday, October 17th. Citigroup boosted their price objective on Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an outperform rating in a research note on Friday, October 12th. Finally, BidaskClub upgraded Iovance Biotherapeutics from a strong sell rating to a sell rating in a research note on Friday. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $23.75.
NASDAQ:IOVA opened at $8.97 on Friday. Iovance Biotherapeutics has a 52-week low of $7.85 and a 52-week high of $19.90. The firm has a market cap of $1.10 billion, a P/E ratio of -6.36 and a beta of 2.74.
Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.03). On average, research analysts anticipate that Iovance Biotherapeutics will post -1.29 earnings per share for the current year.
In other Iovance Biotherapeutics news, Director Wayne P. Rothbaum bought 1,221,053 shares of the firm’s stock in a transaction on Thursday, December 6th. The shares were acquired at an average cost of $10.20 per share, for a total transaction of $12,454,740.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Wayne P. Rothbaum bought 921,053 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was acquired at an average price of $10.31 per share, for a total transaction of $9,496,056.43. The disclosure for this purchase can be found here. 9.90% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Iovance Biotherapeutics by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,048,782 shares of the biotechnology company’s stock worth $45,550,000 after acquiring an additional 302,649 shares during the last quarter. Teachers Advisors LLC increased its stake in Iovance Biotherapeutics by 27.6% in the 3rd quarter. Teachers Advisors LLC now owns 727,043 shares of the biotechnology company’s stock worth $8,179,000 after acquiring an additional 157,427 shares during the last quarter. AQR Capital Management LLC increased its stake in Iovance Biotherapeutics by 18.5% in the 3rd quarter. AQR Capital Management LLC now owns 46,692 shares of the biotechnology company’s stock worth $525,000 after acquiring an additional 7,293 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Iovance Biotherapeutics in the 3rd quarter worth about $677,000. Finally, Nexthera Capital LP bought a new position in Iovance Biotherapeutics in the 3rd quarter worth about $3,336,000. Institutional investors and hedge funds own 73.46% of the company’s stock.
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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