Iovance Biotherapeutics (NASDAQ:IOVA) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Monday, February 4th.
Several other research analysts also recently issued reports on the company. Citigroup upped their price objective on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, October 12th. HC Wainwright reissued a “buy” rating and issued a $26.00 price target (up previously from $22.00) on shares of Iovance Biotherapeutics in a research note on Friday, October 12th. Zacks Investment Research raised Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Wednesday, October 17th. Cowen reissued a “buy” rating on shares of Iovance Biotherapeutics in a research note on Tuesday, November 6th. Finally, ValuEngine downgraded Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $22.86.
NASDAQ IOVA opened at $10.77 on Monday. The company has a market cap of $1.21 billion, a P/E ratio of -8.48 and a beta of 1.92. Iovance Biotherapeutics has a one year low of $7.26 and a one year high of $19.90.
In related news, Director Wayne P. Rothbaum acquired 921,053 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The stock was bought at an average price of $10.31 per share, for a total transaction of $9,496,056.43. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Merrill A. Mcpeak purchased 10,000 shares of the company’s stock in a transaction dated Thursday, December 13th. The stock was acquired at an average price of $9.63 per share, with a total value of $96,300.00. Following the completion of the transaction, the director now owns 456,583 shares of the company’s stock, valued at approximately $4,396,894.29. The disclosure for this purchase can be found here. Insiders bought a total of 2,164,106 shares of company stock valued at $22,150,897 in the last 90 days. 9.90% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. increased its stake in Iovance Biotherapeutics by 58.6% in the fourth quarter. Advisor Group Inc. now owns 8,118 shares of the biotechnology company’s stock valued at $72,000 after acquiring an additional 3,000 shares during the last quarter. Kalos Management Inc. bought a new position in Iovance Biotherapeutics in the fourth quarter valued at approximately $93,000. Great West Life Assurance Co. Can increased its stake in Iovance Biotherapeutics by 67.4% in the fourth quarter. Great West Life Assurance Co. Can now owns 14,538 shares of the biotechnology company’s stock valued at $124,000 after acquiring an additional 5,853 shares during the last quarter. Amalgamated Bank bought a new position in Iovance Biotherapeutics in the fourth quarter valued at approximately $130,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Iovance Biotherapeutics by 66.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,374 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 6,162 shares during the last quarter. Institutional investors own 79.16% 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 LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.
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