Iovance Biotherapeutics (NASDAQ:IOVA) Shares Up 10.3% – What’s Next?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) rose 10.3% during trading on Monday . The company traded as high as $9.51 and last traded at $9.43. Approximately 707,307 shares traded hands during trading, a decline of 90% from the average daily volume of 7,297,557 shares. The stock had previously closed at $8.55.

Analyst Upgrades and Downgrades

IOVA has been the topic of several research analyst reports. UBS Group started coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $17.00 price objective on the stock. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.33.

Iovance Biotherapeutics Trading Down 1.6 %

The company has a market capitalization of $2.78 billion, a P/E ratio of -6.12 and a beta of 0.60. The business’s fifty day moving average price is $9.87 and its 200 day moving average price is $9.48.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The firm had revenue of $58.56 million during the quarter, compared to analysts’ expectations of $53.54 million. During the same quarter last year, the company earned ($0.46) earnings per share. Equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current year.

Insider Activity at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total transaction of $503,000.00. Following the completion of the sale, the director now owns 7,500 shares in the company, valued at $75,450. This trade represents a 86.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.10% of the stock is owned by insiders.

Institutional Trading of Iovance Biotherapeutics

Large investors have recently added to or reduced their stakes in the company. XML Financial LLC grew its position in Iovance Biotherapeutics by 7.4% during the 3rd quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 1,000 shares during the last quarter. Saturna Capital Corp increased its stake in shares of Iovance Biotherapeutics by 7.0% in the third quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 1,353 shares in the last quarter. Diversified Trust Co lifted its position in Iovance Biotherapeutics by 9.5% during the 2nd quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company’s stock worth $136,000 after buying an additional 1,469 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Iovance Biotherapeutics by 11.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company’s stock worth $160,000 after acquiring an additional 1,776 shares during the last quarter. Finally, Xponance Inc. raised its stake in shares of Iovance Biotherapeutics by 13.0% in the second quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock worth $131,000 after acquiring an additional 1,873 shares during the last quarter. 77.03% of the stock is owned by institutional investors.

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 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.