Iovance Biotherapeutics (NASDAQ:IOVA) PT Raised to $19.00 at Piper Sandler

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target hoisted by Piper Sandler from $18.00 to $19.00 in a research report released on Thursday, Benzinga reports. Piper Sandler currently has an overweight rating on the biotechnology company’s stock.

Several other equities research analysts have also recently weighed in on IOVA. Barclays raised their price objective on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Wells Fargo & Company boosted their price objective on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an overweight rating in a research report on Friday, March 1st. HC Wainwright restated a buy rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Thursday, February 29th. JMP Securities upped their price objective on shares of Iovance Biotherapeutics from $18.00 to $25.00 and gave the company a market outperform rating in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group upped their price target on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a buy rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $24.64.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA traded up $0.12 during midday trading on Thursday, reaching $14.03. 6,690,429 shares of the company’s stock were exchanged, compared to its average volume of 10,483,072. The company’s 50 day simple moving average is $11.30 and its two-hundred day simple moving average is $7.52. The firm has a market capitalization of $3.92 billion, a PE ratio of -7.66 and a beta of 0.63. Iovance Biotherapeutics has a 12 month low of $3.21 and a 12 month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.01). The company had revenue of $0.48 million for the quarter, compared to analysts’ expectations of $1.44 million. During the same period in the prior year, the company earned ($0.64) earnings per share. On average, research analysts anticipate that Iovance Biotherapeutics will post -1.41 earnings per share for the current year.

Insider Buying and Selling at Iovance Biotherapeutics

In related news, Director Merrill A. Mcpeak acquired 250,000 shares of Iovance Biotherapeutics stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $9.15 per share, with a total value of $2,287,500.00. Following the transaction, the director now directly owns 320,150 shares in the company, valued at approximately $2,929,372.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its holdings in Iovance Biotherapeutics by 116.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,356 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 3,414 shares during the last quarter. Comerica Bank purchased a new position in Iovance Biotherapeutics during the 3rd quarter valued at about $30,000. Annandale Capital LLC purchased a new position in Iovance Biotherapeutics during the 3rd quarter valued at about $32,000. Clear Street Markets LLC bought a new stake in shares of Iovance Biotherapeutics during the 3rd quarter valued at about $35,000. Finally, KBC Group NV bought a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at about $37,000. 81.85% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Company Profile

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. 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.