Iovance Biotherapeutics’ (IOVA) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a report released on Friday, Benzinga reports. They currently have a $18.00 price target on the biotechnology company’s stock.

IOVA has been the topic of several other reports. Mizuho restated a buy rating and set a $30.00 target price on shares of Iovance Biotherapeutics in a research report on Friday. Stifel Nicolaus lowered their target price on shares of Iovance Biotherapeutics from $27.00 to $26.00 and set a buy rating on the stock in a research report on Wednesday, September 13th. HC Wainwright reaffirmed a buy rating and issued a $38.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, August 9th. Chardan Capital reissued a buy rating and set a $29.00 price target on shares of Iovance Biotherapeutics in a research note on Wednesday, August 16th. Finally, StockNews.com raised Iovance Biotherapeutics to a sell rating in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $19.54.

Iovance Biotherapeutics Stock Up 12.5 %

Shares of Iovance Biotherapeutics stock opened at $5.93 on Friday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -2.65 and a beta of 0.10. Iovance Biotherapeutics has a 52-week low of $4.41 and a 52-week high of $10.85. The company’s 50-day simple moving average is $6.74 and its 200-day simple moving average is $6.92.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.34. The business had revenue of $0.24 million for the quarter, compared to analyst estimates of $3.91 million. During the same quarter in the previous year, the firm posted ($0.63) EPS. Equities research analysts anticipate that Iovance Biotherapeutics will post -1.87 EPS for the current year.

Insider Transactions at Iovance Biotherapeutics

In other news, Director Wayne P. Rothbaum acquired 5,000,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were bought at an average cost of $5.30 per share, for a total transaction of $26,500,000.00. Following the acquisition, the director now directly owns 23,067,333 shares in the company, valued at approximately $122,256,864.90. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IOVA. Envestnet Asset Management Inc. raised its holdings in Iovance Biotherapeutics by 17.6% in the first quarter. Envestnet Asset Management Inc. now owns 14,017 shares of the biotechnology company’s stock valued at $233,000 after acquiring an additional 2,099 shares in the last quarter. Rice Hall James & Associates LLC grew its position in shares of Iovance Biotherapeutics by 71.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 1,085,121 shares of the biotechnology company’s stock worth $18,067,000 after acquiring an additional 453,337 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Iovance Biotherapeutics by 53.3% in the 1st quarter. Raymond James & Associates now owns 15,386 shares of the biotechnology company’s stock valued at $256,000 after acquiring an additional 5,350 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Iovance Biotherapeutics by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,772,007 shares of the biotechnology company’s stock valued at $29,504,000 after acquiring an additional 104,913 shares in the last quarter. Finally, AlphaCrest Capital Management LLC lifted its stake in Iovance Biotherapeutics by 11.7% during the first quarter. AlphaCrest Capital Management LLC now owns 17,538 shares of the biotechnology company’s stock worth $292,000 after purchasing an additional 1,838 shares during the last quarter. Institutional investors and hedge funds own 81.85% 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.