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

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have received a consensus recommendation of "Buy" from the ten analysts that are currently covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $24.64.

A number of research analysts have weighed in on the company. Chardan Capital raised their price objective on Iovance Biotherapeutics from $29.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, February 20th. Barclays raised their target price on Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th. HC Wainwright reissued a "buy" rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Thursday, February 29th. The Goldman Sachs Group raised their price objective on Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, February 29th. Finally, JMP Securities raised their price objective on Iovance Biotherapeutics from $18.00 to $25.00 and gave the stock a "market outperform" rating in a research report on Tuesday, February 20th.

Iovance Biotherapeutics Trading Up 0.9 %

Iovance Biotherapeutics stock traded up $0.10 during mid-day trading on Friday, hitting $11.64. The company had a trading volume of 2,489,561 shares, compared to its average volume of 4,043,614. Iovance Biotherapeutics has a 12-month low of $3.21 and a 12-month high of $18.33. The company's fifty day moving average is $14.08 and its 200-day moving average is $9.16. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -6.19 and a beta of 0.62.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.01). The firm had revenue of $0.48 million during the quarter, compared to analysts' expectations of $1.44 million. During the same quarter last year, the business earned ($0.64) EPS. As a group, sell-side analysts expect that Iovance Biotherapeutics will post -1.4 EPS for the current fiscal year.

Insider Activity at Iovance Biotherapeutics

In other news, Director Merrill A. Mcpeak bought 250,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average cost of $9.15 per share, for a total transaction of $2,287,500.00. Following the acquisition, 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 accessible through this link. 10.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of IOVA. AE Wealth Management LLC purchased a new position in shares of Iovance Biotherapeutics in the 3rd quarter valued at about $48,000. Exchange Traded Concepts LLC boosted its stake in shares of Iovance Biotherapeutics by 23.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 19,857 shares of the biotechnology company's stock valued at $90,000 after buying an additional 3,777 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Iovance Biotherapeutics by 15.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 64,863 shares of the biotechnology company's stock valued at $295,000 after buying an additional 8,522 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Iovance Biotherapeutics by 357.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 87,595 shares of the biotechnology company's stock valued at $399,000 after buying an additional 68,436 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Iovance Biotherapeutics by 7.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 853,944 shares of the biotechnology company's stock valued at $3,885,000 after buying an additional 56,160 shares during the period. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

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.