Iovance Biotherapeutics (IOVA) Downgraded by ValuEngine to “Buy”

ValuEngine lowered shares of Iovance Biotherapeutics (NASDAQ:IOVA) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

Other research analysts also recently issued research reports about the stock. HC Wainwright reissued a buy rating and issued a $22.00 price objective on shares of Iovance Biotherapeutics in a research report on Tuesday, September 25th. BidaskClub raised shares of Iovance Biotherapeutics from a strong sell rating to a sell rating in a research report on Friday. Cowen reissued a buy rating on shares of Iovance Biotherapeutics in a research report on Tuesday, November 6th. Zacks Investment Research raised shares of Iovance Biotherapeutics from a hold rating to a buy rating and set a $12.00 price objective for the company in a research report on Wednesday, October 17th. Finally, Citigroup lifted their price objective on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an outperform rating in a research report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $23.75.

Shares of IOVA traded down $0.98 during midday trading on Friday, reaching $8.97. The stock had a trading volume of 720,562 shares, compared to its average volume of 1,186,543. Iovance Biotherapeutics has a one year low of $7.85 and a one year high of $19.90. The company has a market cap of $1.23 billion, a PE ratio of -6.36 and a beta of 2.74.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.03). As a group, analysts expect that Iovance Biotherapeutics will post -1.29 earnings per share for the current year.

In related news, Director Wayne P. Rothbaum bought 921,053 shares of the business’s stock in a transaction dated Tuesday, December 4th. The stock was bought at an average price of $10.31 per share, for a total transaction of $9,496,056.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wayne P. Rothbaum bought 1,221,053 shares of the business’s stock in a transaction dated Thursday, December 6th. The shares were bought at an average price of $10.20 per share, with a total value of $12,454,740.60. The disclosure for this purchase can be found here. Company insiders own 9.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of IOVA. Amalgamated Bank acquired a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth about $161,000. TD Asset Management Inc. lifted its stake in shares of Iovance Biotherapeutics by 29.3% during the 2nd quarter. TD Asset Management Inc. now owns 98,800 shares of the biotechnology company’s stock worth $1,265,000 after buying an additional 22,400 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Iovance Biotherapeutics by 2.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,344,279 shares of the biotechnology company’s stock worth $30,007,000 after buying an additional 58,780 shares during the last quarter. State of Wisconsin Investment Board lifted its stake in shares of Iovance Biotherapeutics by 11.6% during the 2nd quarter. State of Wisconsin Investment Board now owns 83,700 shares of the biotechnology company’s stock worth $1,071,000 after buying an additional 8,700 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Iovance Biotherapeutics by 61.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,918 shares of the biotechnology company’s stock worth $178,000 after buying an additional 5,318 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

About Iovance Biotherapeutics

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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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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