Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Consensus Rating of "Buy" by Brokerages

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) has received an average rating of "Buy" from the ten ratings firms that are presently covering the firm, MarketBeat reports. Ten research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $24.64.

Several equities research analysts have issued reports on IOVA shares. The Goldman Sachs Group lifted their target price on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, February 29th. JMP Securities lifted their target price on shares of Iovance Biotherapeutics from $18.00 to $25.00 and gave the stock a "market outperform" rating in a research note on Tuesday, February 20th. HC Wainwright reaffirmed a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Thursday, February 29th. Barclays lifted their target price 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. Finally, Chardan Capital boosted 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.

Iovance Biotherapeutics Price Performance

NASDAQ IOVA traded down $0.42 on Tuesday, hitting $13.77. The company had a trading volume of 5,513,094 shares, compared to its average volume of 9,640,624. The company's fifty day moving average price is $12.57 and its 200-day moving average price is $8.19. Iovance Biotherapeutics has a 12-month low of $3.21 and a 12-month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued 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 company 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 firm posted ($0.64) earnings per share. As a group, research analysts predict that Iovance Biotherapeutics will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its position in shares of Iovance Biotherapeutics by 17.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 14,017 shares of the biotechnology company's stock valued at $233,000 after purchasing an additional 2,099 shares during the period. Rice Hall James & Associates LLC boosted its position in shares of Iovance Biotherapeutics by 71.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 1,085,121 shares of the biotechnology company's stock valued at $18,067,000 after purchasing an additional 453,337 shares during the period. Raymond James & Associates boosted its position in shares of Iovance Biotherapeutics by 53.3% in the 1st quarter. Raymond James & Associates now owns 15,386 shares of the biotechnology company's stock valued at $256,000 after purchasing an additional 5,350 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Iovance Biotherapeutics by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,772,007 shares of the biotechnology company's stock valued at $29,504,000 after purchasing an additional 104,913 shares during the period. Finally, AlphaCrest Capital Management LLC boosted its position in shares of Iovance Biotherapeutics by 11.7% in the 1st quarter. AlphaCrest Capital Management LLC now owns 17,538 shares of the biotechnology company's stock valued at $292,000 after purchasing an additional 1,838 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.

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.