Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Director Merrill A. Mcpeak Purchases 10,000 Shares

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Director Merrill A. Mcpeak acquired 10,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were bought at an average cost of $5.56 per share, with a total value of $55,600.00. Following the purchase, the director now owns 248,633 shares in the company, valued at $1,382,399.48. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Iovance Biotherapeutics Stock Down 8.4 %

Shares of NASDAQ:IOVA traded down $0.50 on Tuesday, reaching $5.43. The company had a trading volume of 9,270,108 shares, compared to its average volume of 5,174,018. The stock has a market capitalization of $1.35 billion, a P/E ratio of -2.49 and a beta of 0.10. The stock has a 50-day moving average price of $6.74 and a 200 day moving average price of $6.92. Iovance Biotherapeutics, Inc. has a twelve month low of $4.41 and a twelve month high of $10.77.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.34. The company had revenue of $0.24 million during the quarter, compared to the consensus estimate of $3.91 million. During the same period in the previous year, the business posted ($0.63) earnings per share. On average, sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.87 earnings per share for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC grew its stake in Iovance Biotherapeutics by 38.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 934 shares during the last quarter. Assetmark Inc. grew its position in shares of Iovance Biotherapeutics by 299.5% in the first quarter. Assetmark Inc. now owns 4,223 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 3,166 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of Iovance Biotherapeutics in the first quarter worth about $83,000. Royal Bank of Canada boosted its stake in Iovance Biotherapeutics by 54.5% during the 3rd quarter. Royal Bank of Canada now owns 5,066 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,787 shares during the period. Finally, US Bancorp DE increased its position in Iovance Biotherapeutics by 72.7% in the 1st quarter. US Bancorp DE now owns 5,591 shares of the biotechnology company’s stock worth $34,000 after buying an additional 2,354 shares during the period. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $17.00 target price on shares of Iovance Biotherapeutics in a research report on Friday. Stifel Nicolaus cut their price objective on shares of Iovance Biotherapeutics from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, September 13th. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $18.00 target price on shares of Iovance Biotherapeutics in a research report on Friday. Finally, Wells Fargo & Company raised Iovance Biotherapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $11.00 to $17.00 in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.54.

Iovance Biotherapeutics Company Profile

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 lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.