Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Up 6.6%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVAGet Free Report)’s share price was up 6.6% on Thursday . The stock traded as high as $8.62 and last traded at $8.60. Approximately 1,473,458 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 5,996,439 shares. The stock had previously closed at $8.07.

Analyst Ratings Changes

A number of analysts have weighed in on IOVA shares. Truist Financial restated a “buy” rating and set a $17.00 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, December 27th. HC Wainwright reduced their price objective on shares of Iovance Biotherapeutics from $38.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, December 27th. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group started coverage on shares of Iovance Biotherapeutics in a research note on Monday, November 20th. They set a “buy” rating and a $12.00 price objective for the company. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.91.

Read Our Latest Stock Report on IOVA

Iovance Biotherapeutics Stock Performance

The business’s fifty day moving average price is $7.95 and its 200-day moving average price is $6.22.

Iovance Biotherapeutics (NASDAQ:IOVAGet Free Report) last posted its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.46) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.46). The business had revenue of $0.47 million during the quarter, compared to analysts’ expectations of $4.50 million. During the same period in the previous year, the business posted ($0.63) EPS. As a group, sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -1.88 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in IOVA. MHR Fund Management LLC purchased a new position in shares of Iovance Biotherapeutics in the fourth quarter worth approximately $76,661,000. Perceptive Advisors LLC lifted its holdings in Iovance Biotherapeutics by 53.8% during the first quarter. Perceptive Advisors LLC now owns 15,339,735 shares of the biotechnology company’s stock valued at $93,726,000 after purchasing an additional 5,367,955 shares in the last quarter. State Street Corp lifted its holdings in Iovance Biotherapeutics by 71.9% during the second quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company’s stock valued at $129,949,000 after purchasing an additional 4,925,025 shares in the last quarter. BlackRock Inc. lifted its holdings in Iovance Biotherapeutics by 36.5% during the second quarter. BlackRock Inc. now owns 17,001,791 shares of the biotechnology company’s stock valued at $119,693,000 after purchasing an additional 4,545,129 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Iovance Biotherapeutics by 374.2% during the fourth quarter. Morgan Stanley now owns 4,969,869 shares of the biotechnology company’s stock valued at $31,757,000 after buying an additional 3,921,869 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Iovance Biotherapeutics Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for Iovance Biotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iovance Biotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.