Iovance Biotherapeutics (NASDAQ:IOVA – Free Report) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.
Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird raised their price objective on shares of Iovance Biotherapeutics from $20.00 to $23.00 in a research report on Tuesday, May 23rd. Stifel Nicolaus raised their price objective on shares of Iovance Biotherapeutics from $21.00 to $24.00 in a research report on Tuesday, May 30th. Finally, Wells Fargo & Company upgraded shares of Iovance Biotherapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $11.00 to $17.00 in a research report on Tuesday, May 30th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Iovance Biotherapeutics has an average rating of “Moderate Buy” and a consensus price target of $19.09.
Iovance Biotherapeutics Stock Up 6.3 %
Shares of Iovance Biotherapeutics stock opened at $7.24 on Friday. The stock has a market capitalization of $1.63 billion, a P/E ratio of -3.02 and a beta of 0.11. The company has a 50-day simple moving average of $7.73 and a 200 day simple moving average of $6.97. Iovance Biotherapeutics has a 12-month low of $5.28 and a 12-month high of $13.44.
Iovance Biotherapeutics (NASDAQ:IOVA – Free Report) last posted its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.34. During the same quarter last year, the firm posted ($0.58) earnings per share. On average, equities analysts anticipate that Iovance Biotherapeutics will post -2.39 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. MHR Fund Management LLC bought a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $76,661,000. Perceptive Advisors LLC boosted its stake in Iovance Biotherapeutics by 53.8% during the 1st quarter. Perceptive Advisors LLC now owns 15,339,735 shares of the biotechnology company’s stock worth $93,726,000 after acquiring an additional 5,367,955 shares during the last quarter. State Street Corp boosted its stake in Iovance Biotherapeutics by 71.9% during the 2nd quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company’s stock worth $129,949,000 after acquiring an additional 4,925,025 shares during the last quarter. Morgan Stanley boosted its stake in Iovance Biotherapeutics by 374.2% during the 4th quarter. Morgan Stanley now owns 4,969,869 shares of the biotechnology company’s stock worth $31,757,000 after acquiring an additional 3,921,869 shares during the last quarter. Finally, Norges Bank bought a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $19,009,000. Institutional investors own 89.80% 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 lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.