Iovance Biotherapeutics (NASDAQ:IOVA) had its price target boosted by stock analysts at HC Wainwright from $26.00 to $32.00 in a note issued to investors on Monday, June 3rd, The Fly reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 30.51% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. Chardan Capital reissued a “buy” rating on shares of Iovance Biotherapeutics in a research note on Wednesday, March 13th. BidaskClub raised Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Wells Fargo & Co lifted their price target on Iovance Biotherapeutics from $23.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. ValuEngine raised Iovance Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 23rd. Finally, B. Riley reissued a “buy” rating on shares of Iovance Biotherapeutics in a research note on Friday, April 5th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $27.82.
NASDAQ:IOVA traded up $1.93 during trading hours on Monday, reaching $24.52. The stock had a trading volume of 4,373,111 shares, compared to its average volume of 1,491,054. The firm has a market capitalization of $2.65 billion, a PE ratio of -19.31 and a beta of 1.41. Iovance Biotherapeutics has a 12-month low of $7.26 and a 12-month high of $25.50. The company has a current ratio of 20.09, a quick ratio of 20.09 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $17.76.
Several hedge funds have recently bought and sold shares of IOVA. Teachers Advisors LLC lifted its position in shares of Iovance Biotherapeutics by 27.6% during the 3rd quarter. Teachers Advisors LLC now owns 727,043 shares of the biotechnology company’s stock worth $8,179,000 after buying an additional 157,427 shares during the last quarter. Vanguard Group Inc. increased its holdings in Iovance Biotherapeutics by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,048,782 shares of the biotechnology company’s stock worth $45,550,000 after purchasing an additional 302,649 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in Iovance Biotherapeutics by 58.9% in the 4th quarter. Xact Kapitalforvaltning AB now owns 20,500 shares of the biotechnology company’s stock worth $181,000 after purchasing an additional 7,600 shares in the last quarter. Rhumbline Advisers increased its holdings in Iovance Biotherapeutics by 91.1% in the 4th quarter. Rhumbline Advisers now owns 136,088 shares of the biotechnology company’s stock worth $1,204,000 after purchasing an additional 64,879 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Iovance Biotherapeutics in the 4th quarter worth about $180,000. Hedge funds and other institutional investors own 94.96% of the company’s stock.
About Iovance Biotherapeutics
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, 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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