Iovance Biotherapeutics Inc. (NASDAQ:IOVA) shares traded -4.46% lower at $7.49 on Wall Street last session.
IOVA stock price is now 19.32% away from the 50-day moving average and -7.08% away from the 200-day moving average. The market capitalization of the company currently stands at $1.69B.
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On January 27, 2023, Piper Sandler Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock increasing its target price from $11 to quote $14, while ‘Goldman’ rates the stock as ‘Neutral’.
In other news, MCPEAK MERRILL A, Director bought 10,000 shares of the company’s stock on Dec 21. The stock was bought for $61,500 at an average price of $6.15. Upon completion of the transaction, the Director now directly owns 70,150 shares in the company, valued at $0.53 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 02, Director Rothbaum Wayne P. bought 10,000,000 shares of the business’s stock. A total of $65,000,000 was incurred on buying the stock at an average price of $6.50. This leaves the insider owning 18,067,333 shares of the company worth $135.32 million. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IOVA stock. A new stake in Iovance Biotherapeutics Inc. shares was purchased by POINT72 ASSET MANAGEMENT, L.P. during the first quarter worth $65,912,000. DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C) invested $13,719,000 in shares of IOVA during the first quarter. In the first quarter, KYNAM CAPITAL MANAGEMENT, LP acquired a new stake in Iovance Biotherapeutics Inc. valued at approximately $13,482,000. SOLEUS CAPITAL MANAGEMENT, L.P. acquired a new stake in IOVA for approximately $10,859,000. J. GOLDMAN & CO LP purchased a new stake in IOVA valued at around $4,881,000 in the second quarter. In total, there are 328 active investors with 89.98% ownership of the company’s stock.
Iovance Biotherapeutics Inc. (NASDAQ: IOVA) opened at $7.73 on Tuesday. During the past 12 months, Iovance Biotherapeutics Inc. has had a low of $5.28 and a high of $15.65. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 7.30, and a quick ratio of 7.30. The fifty day moving average price for IOVA is $6.29 and a two-hundred day moving average price translates $8.04 for the stock.
The latest earnings results from Iovance Biotherapeutics Inc. (NASDAQ: IOVA) was released for Mar, 2023. For the current quarter, analysts expect IOVA to generate $1.85M in revenue.
Iovance Biotherapeutics Inc.(IOVA) 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. It also develops LN-145 for the treatment of metastatic non-small cell lung cancer; IOV-4001 for the treatment of melanoma non-small cell lung cancer; IOV-2001; and IOV-3001. Iovance Biotherapeutics, Inc. has collaborations and licensing agreements with H. Lee Moffitt Cancer Center; M.D. Anderson Cancer Center; Ohio State University; Centre hospitalier de l’Université de Montreal; Cellectis S.A.; Novartis Pharma AG; Melanoma Institute Australia; and Beth-Israel Deaconess Medical Center. The company was formerly known as Lion Biotechnologies, Inc. and changed its name to Iovance Biotherapeutics, Inc. in June 2017. Iovance Biotherapeutics, Inc. was incorporated in 2007 and is headquartered in San Carlos, California.
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