Iovance Biotherapeutics (IOVA) Stock Price Up 5.1%

Iovance Biotherapeutics Inc (NASDAQ:IOVA) rose 5.1% on Wednesday . The stock traded as high as $13.68 and last traded at $13.40. Approximately 2,074,300 shares traded hands during mid-day trading, an increase of 105% from the average daily volume of 1,014,290 shares. The stock had previously closed at $12.75.

IOVA has been the topic of several analyst reports. B. Riley upgraded shares of Iovance Biotherapeutics from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, April 10th. BidaskClub lowered shares of Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 4th. ValuEngine upgraded shares of Iovance Biotherapeutics from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, HC Wainwright set a $22.00 target price on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a report on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.81.

The firm has a market capitalization of $1.20 billion, a P/E ratio of -9.40 and a beta of 5.43.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, May 10th. The biotechnology company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). research analysts expect that Iovance Biotherapeutics Inc will post -1.27 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of IOVA. Schwab Charles Investment Management Inc. raised its holdings in shares of Iovance Biotherapeutics by 36.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 302,175 shares of the biotechnology company’s stock worth $2,418,000 after acquiring an additional 80,160 shares during the period. Teacher Retirement System of Texas bought a new position in Iovance Biotherapeutics in the fourth quarter valued at $154,000. The Manufacturers Life Insurance Company grew its position in Iovance Biotherapeutics by 12.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 45,817 shares of the biotechnology company’s stock valued at $367,000 after purchasing an additional 5,110 shares in the last quarter. Bank of New York Mellon Corp grew its position in Iovance Biotherapeutics by 22.8% in the fourth quarter. Bank of New York Mellon Corp now owns 321,350 shares of the biotechnology company’s stock valued at $2,571,000 after purchasing an additional 59,658 shares in the last quarter. Finally, BlackRock Inc. grew its position in Iovance Biotherapeutics by 9.0% in the fourth quarter. BlackRock Inc. now owns 4,864,841 shares of the biotechnology company’s stock valued at $38,918,000 after purchasing an additional 401,743 shares in the last quarter. Institutional investors and hedge funds own 86.63% of the company’s stock.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.

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