Iovance Biotherapeutics (NASDAQ:IOVA) Trading Up 10.3% – Time to Buy?

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on IOVA shares. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Piper Sandler cut Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. UBS Group initiated coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $17.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

Iovance Biotherapeutics Stock Performance

The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -6.33 and a beta of 0.60. The business’s 50 day simple moving average is $9.91 and its 200-day simple moving average is $9.52.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. The firm had revenue of $58.56 million for the quarter, compared to analysts’ expectations of $53.54 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. During the same period last year, the firm earned ($0.46) EPS. As a group, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current year.

Insider Activity at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the firm’s 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 transaction, the director now owns 7,500 shares of the company’s stock, valued at approximately $75,450. This trade represents a 86.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.10% of the company’s stock.

Institutional Trading of Iovance Biotherapeutics

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Iovance Biotherapeutics by 9.2% in the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock worth $369,245,000 after purchasing an additional 2,102,480 shares during the period. Marshall Wace LLP bought a new position in Iovance Biotherapeutics during the second quarter valued at about $12,929,000. Magnetar Financial LLC acquired a new position in Iovance Biotherapeutics during the second quarter worth about $661,000. DNB Asset Management AS raised its position in Iovance Biotherapeutics by 65.5% in the second quarter. DNB Asset Management AS now owns 28,022 shares of the biotechnology company’s stock worth $224,000 after acquiring an additional 11,091 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Iovance Biotherapeutics in the 2nd quarter valued at about $2,065,000. 77.03% of the stock is owned by institutional investors and hedge funds.

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.