Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $24.64 Consensus Price Target from Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned a consensus rating of “Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. Ten equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $24.64.

A number of analysts have weighed in on IOVA shares. Wells Fargo & Company increased their price target on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, March 1st. The Goldman Sachs Group boosted their price objective on Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Piper Sandler raised their price objective on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Chardan Capital upped their target price on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Thursday, February 29th.

Insider Activity at Iovance Biotherapeutics

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

Institutional Trading of Iovance Biotherapeutics

A number of large investors have recently made changes to their positions in IOVA. Diversified Trust Co raised its holdings in Iovance Biotherapeutics by 12.3% during the 4th quarter. Diversified Trust Co now owns 13,512 shares of the biotechnology company’s stock worth $110,000 after buying an additional 1,481 shares during the period. Pale Fire Capital SE raised its holdings in shares of Iovance Biotherapeutics by 12.7% during the fourth quarter. Pale Fire Capital SE now owns 17,024 shares of the biotechnology company’s stock worth $138,000 after acquiring an additional 1,924 shares during the period. Chicago Partners Investment Group LLC lifted its position in Iovance Biotherapeutics by 15.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company’s stock valued at $157,000 after acquiring an additional 2,688 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake 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 purchasing an additional 3,414 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in Iovance Biotherapeutics by 23.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 19,857 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 3,777 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Up 6.1 %

NASDAQ IOVA opened at $12.50 on Friday. The stock has a market capitalization of $3.49 billion, a PE ratio of -6.65 and a beta of 0.62. Iovance Biotherapeutics has a 12-month low of $3.21 and a 12-month high of $18.33. The company has a 50 day moving average price of $14.07 and a two-hundred day moving average price of $9.38.

Iovance Biotherapeutics (NASDAQ:IOVA) last released 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 firm had revenue of $0.48 million during the quarter, compared to the consensus estimate of $1.44 million. During the same period in the previous year, the business posted ($0.64) EPS. As a group, equities analysts anticipate that Iovance Biotherapeutics will post -1.4 EPS for the current year.

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 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.