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

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target increased by equities research analysts at Piper Sandler from $18.00 to $19.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s target price indicates a potential upside of 35.42% from the company’s current price.

A number of other equities analysts also recently issued reports on IOVA. Truist Financial reiterated a “buy” rating and issued a $17.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, December 27th. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a report on Friday, February 2nd. Chardan Capital increased their price objective 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. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Thursday, February 29th. Finally, Barclays raised their price target on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.64.

Iovance Biotherapeutics Trading Up 0.9 %

IOVA stock traded up $0.12 during trading on Thursday, reaching $14.03. 6,690,429 shares of the stock were exchanged, compared to its average volume of 10,483,072. The business has a 50 day moving average price of $11.30 and a 200-day moving average price of $7.52. Iovance Biotherapeutics has a 1 year low of $3.21 and a 1 year high of $18.33. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of -7.66 and a beta of 0.63.

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

Insider Activity

In related news, Director Merrill A. Mcpeak purchased 250,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average price of $9.15 per share, with a total value of $2,287,500.00. Following the completion of the transaction, the director now owns 320,150 shares of the company’s stock, valued at $2,929,372.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Iovance Biotherapeutics

Hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. boosted its holdings in Iovance Biotherapeutics by 116.0% in the third 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. Comerica Bank acquired a new position in shares of Iovance Biotherapeutics during the third quarter valued at $30,000. Annandale Capital LLC acquired a new position in shares of Iovance Biotherapeutics during the third quarter valued at $32,000. Clear Street Markets LLC acquired a new position in shares of Iovance Biotherapeutics during the third quarter valued at $35,000. Finally, KBC Group NV acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

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. 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.