Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Up 6%

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) rose 6% during trading on Thursday . The company traded as high as $15.18 and last traded at $14.95. Approximately 2,922,543 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 9,744,391 shares. The stock had previously closed at $14.10.

Wall Street Analyst Weigh In

IOVA has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. JMP Securities increased their target price on Iovance Biotherapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 20th. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research note on Friday, February 2nd. Wells Fargo & Company increased their target price on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, Truist Financial reissued a “buy” rating and set a $17.00 target price on shares of Iovance Biotherapeutics in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.64.

Iovance Biotherapeutics Trading Up 5.1 %

The company has a market capitalization of $4.14 billion, a P/E ratio of -7.88 and a beta of 0.63. The firm’s 50 day moving average price is $12.17 and its two-hundred day moving average price is $7.98.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data 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 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 firm posted ($0.64) earnings per share. Analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Merrill A. Mcpeak acquired 250,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $9.15 per share, with a total value of $2,287,500.00. Following the acquisition, the director now owns 320,150 shares in the company, valued at approximately $2,929,372.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iovance Biotherapeutics

Hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. increased its position in Iovance Biotherapeutics by 116.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,356 shares of the biotechnology company’s stock worth $29,000 after buying an additional 3,414 shares during the period. Comerica Bank bought a new position in Iovance Biotherapeutics during the 3rd quarter worth $30,000. Annandale Capital LLC bought a new position in shares of Iovance Biotherapeutics in the third quarter worth $32,000. Clear Street Markets LLC bought a new position in shares of Iovance Biotherapeutics in the third quarter worth $35,000. Finally, KBC Group NV bought a new position in shares of Iovance Biotherapeutics in the fourth quarter worth $37,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

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. 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.