Brokerages Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Price Target at $24.64

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been given a consensus recommendation of “Buy” by the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $24.64.

A number of brokerages have weighed in on IOVA. Chardan Capital lifted their price target on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Piper Sandler upped their price target on Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. The Goldman Sachs Group lifted their price objective on Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a report on Friday, February 2nd. Finally, JMP Securities raised their target price on Iovance Biotherapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, February 20th.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $13.63 on Friday. The stock has a 50 day moving average of $13.97 and a 200 day moving average of $9.47. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -7.25 and a beta of 0.66. Iovance Biotherapeutics has a fifty-two week low of $3.21 and a fifty-two week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.01). The firm had revenue of $0.48 million during the quarter, compared to analyst estimates of $1.44 million. During the same period in the previous year, the company posted ($0.64) EPS. Analysts forecast that Iovance Biotherapeutics will post -1.4 EPS for the current year.

Insider Activity at Iovance Biotherapeutics

In related news, Director Merrill A. Mcpeak bought 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $9.15 per share, for a total transaction of $2,287,500.00. Following the completion of the acquisition, the director now owns 320,150 shares in the company, valued at approximately $2,929,372.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.40% of the stock is currently owned by company insiders.

Institutional Trading of Iovance Biotherapeutics

A number of institutional investors have recently bought and sold shares of IOVA. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 valued at $29,000 after purchasing an additional 3,414 shares during the last quarter. Annandale Capital LLC acquired a new position in Iovance Biotherapeutics in the 3rd quarter valued at about $32,000. Clear Street Markets LLC acquired a new position in Iovance Biotherapeutics in the 3rd quarter valued at about $35,000. Quadrant Capital Group LLC increased its position in Iovance Biotherapeutics by 1,227.8% in the 4th quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 4,678 shares during the period. Finally, AE Wealth Management LLC acquired a new position in Iovance Biotherapeutics in the 3rd quarter valued at about $48,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

About Iovance Biotherapeutics

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 in the United States. 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.