In yesterday’s Wall Street session, Iovance Biotherapeutics Inc. (NASDAQ:IOVA) shares traded at $5.43, down -8.81% from the previous session.
As of this writing, 13 analysts cover Iovance Biotherapeutics Inc. (NASDAQ:IOVA). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $40.00 and a low of $14.00, we find $20.00. Given the previous closing price of $5.96, this indicates a potential upside of 235.57 percent. IOVA stock price is now -21.65% away from the 50-day moving average and -21.62% away from the 200-day moving average. The market capitalization of the company currently stands at $1.31B.
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There are 1 analysts who have given it a hold rating, whereas 10 have given it a buy rating. Brokers who have rated the stock have averaged $24.36 as their price target over the next twelve months.
With the price target enhanced from $11 to $17, Wells Fargo Upgraded its rating from Equal Weight to Overweight for Iovance Biotherapeutics Inc. (NASDAQ: IOVA).
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 $0.38 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 $98.11 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 HOOD RIVER CAPITAL MANAGEMENT LLC during the first quarter worth $10,737,000. EXODUSPOINT CAPITAL MANAGEMENT, LP invested $2,445,000 in shares of IOVA during the first quarter. In the first quarter, POLAR ASSET MANAGEMENT PARTNERS INC. acquired a new stake in Iovance Biotherapeutics Inc. valued at approximately $2,156,000. SG AMERICAS SECURITIES, LLC acquired a new stake in IOVA for approximately $1,997,000. STATE OF NEW JERSEY COMMON PENSION FUND D purchased a new stake in IOVA valued at around $1,490,000 in the second quarter. In total, there are 334 active investors with 91.41% ownership of the company’s stock.
Wednesday morning saw Iovance Biotherapeutics Inc. (NASDAQ: IOVA) opened at $5.94. During the past 12 months, Iovance Biotherapeutics Inc. has had a low of $5.28 and a high of $11.88. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.10, and a quick ratio of 3.00. The fifty day moving average price for IOVA is $6.90 and a two-hundred day moving average price translates $6.93 for the stock.
The latest earnings results from Iovance Biotherapeutics Inc. (NASDAQ: IOVA) was released for Jun, 2023. According to the Biotechnology Company, earnings per share came in at -$0.47, beating analysts’ expectations of -$0.8 by 0.33. This compares to -$0.63 EPS in the same period last year. For the current quarter, analysts expect IOVA to generate $4.19M 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.
