StockNews.com assumed coverage on shares of Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) in a research note released on Thursday. The brokerage issued a sell rating on the biotechnology company’s stock.
Several other research firms also recently weighed in on IOVA. Truist Financial raised their price target on Iovance Biotherapeutics from $16.00 to $17.00 and gave the stock a buy rating in a research report on Tuesday, January 24th. Benchmark downgraded Iovance Biotherapeutics to a neutral rating and lowered their price objective for the company from $20.00 to $6.00 in a research report on Friday, December 9th. Wells Fargo & Company lowered their price objective on Iovance Biotherapeutics from $14.00 to $11.00 and set an equal weight rating for the company in a research report on Monday, March 6th. JMP Securities lowered their price objective on Iovance Biotherapeutics from $25.00 to $21.00 and set a market outperform rating for the company in a research report on Monday, November 21st. Finally, Piper Sandler raised Iovance Biotherapeutics from a neutral rating to an overweight rating and lifted their price objective for the company from $11.00 to $14.00 in a research report on Friday, January 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $18.20.
Iovance Biotherapeutics Stock Performance
Iovance Biotherapeutics stock traded down $0.16 during mid-day trading on Thursday, hitting $6.46. 3,472,882 shares of the company were exchanged, compared to its average volume of 3,070,719. The business’s 50 day simple moving average is $7.10 and its two-hundred day simple moving average is $7.93. Iovance Biotherapeutics has a 12-month low of $5.42 and a 12-month high of $18.73.
Insider Buying and Selling at Iovance Biotherapeutics
In other news, Director Merrill A. Mcpeak purchased 10,000 shares of the stock in a transaction on Wednesday, December 21st. The stock was purchased at an average price of $6.15 per share, with a total value of $61,500.00. Following the completion of the transaction, the director now owns 70,150 shares in the company, valued at $431,422.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.60% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. lifted its stake in shares of Iovance Biotherapeutics by 11.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 34,373 shares of the biotechnology company’s stock worth $219,000 after purchasing an additional 3,500 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Iovance Biotherapeutics by 94.7% during the fourth quarter. Alliancebernstein L.P. now owns 333,901 shares of the biotechnology company’s stock worth $2,134,000 after purchasing an additional 162,401 shares in the last quarter. Point72 Middle East FZE acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter worth about $276,000. Schonfeld Strategic Advisors LLC lifted its stake in shares of Iovance Biotherapeutics by 476.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 998,100 shares of the biotechnology company’s stock worth $6,378,000 after purchasing an additional 824,917 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Iovance Biotherapeutics by 5.2% during the fourth quarter. Legal & General Group Plc now owns 128,877 shares of the biotechnology company’s stock worth $824,000 after purchasing an additional 6,376 shares in the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.
Iovance Biotherapeutics Company Profile
Iovance Biotherapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of cell therapies as novel cancer immunotherapy products. Its lead product candidate, LN-144 for metastatic melanoma, is an autologous adoptive cell therapy utilizing tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients’ tumors.
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