Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $21.07.

A number of research analysts have issued reports on the company. Piper Sandler decreased their target price on Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, January 31st. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th.

Institutional Trading of Iovance Biotherapeutics

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in Iovance Biotherapeutics in the fourth quarter valued at approximately $515,000. Jennison Associates LLC acquired a new position in Iovance Biotherapeutics in the fourth quarter valued at approximately $493,000. Barclays PLC lifted its stake in Iovance Biotherapeutics by 118.8% in the third quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock valued at $5,677,000 after buying an additional 328,284 shares during the period. Principal Financial Group Inc. lifted its stake in Iovance Biotherapeutics by 59.0% in the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after buying an additional 1,496,941 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Iovance Biotherapeutics in the third quarter valued at approximately $920,000. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Stock Down 3.8 %

IOVA stock opened at $5.34 on Friday. The company has a market cap of $1.63 billion, a PE ratio of -3.58 and a beta of 0.54. The business has a 50-day simple moving average of $6.35 and a 200 day simple moving average of $8.66. Iovance Biotherapeutics has a 52 week low of $5.05 and a 52 week high of $18.33.

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.