Iovance Biotherapeutics (NASDAQ:IOVA) Shares Gap Up to $6.49

Iovance Biotherapeutics, Inc. (NASDAQ:IOVAGet Rating) shares gapped up prior to trading on Tuesday . The stock had previously closed at $6.49, but opened at $6.78. Iovance Biotherapeutics shares last traded at $6.27, with a volume of 27,858 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IOVA. Wells Fargo & Company restated an “equal weight” rating and issued a $14.00 price target on shares of Iovance Biotherapeutics in a research note on Thursday, August 18th. Guggenheim began coverage on Iovance Biotherapeutics in a report on Monday, October 31st. They issued a “neutral” rating for the company. Oppenheimer dropped their price objective on Iovance Biotherapeutics from $27.00 to $25.00 in a report on Friday, November 18th. StockNews.com began coverage on Iovance Biotherapeutics in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, Piper Sandler dropped their price objective on Iovance Biotherapeutics from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Sunday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.40.

Iovance Biotherapeutics Stock Performance

The company has a market cap of $981.77 million, a price-to-earnings ratio of -2.52 and a beta of 0.50. The business has a fifty day moving average price of $9.04 and a 200 day moving average price of $10.53.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Treasurer of the State of North Carolina increased its holdings in Iovance Biotherapeutics by 1.6% in the 1st quarter. Treasurer of the State of North Carolina now owns 54,917 shares of the biotechnology company’s stock worth $914,000 after purchasing an additional 878 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Iovance Biotherapeutics by 6.0% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,007 shares of the biotechnology company’s stock worth $267,000 after purchasing an additional 909 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Iovance Biotherapeutics by 38.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 934 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Iovance Biotherapeutics by 3.7% in the 1st quarter. Baird Financial Group Inc. now owns 27,545 shares of the biotechnology company’s stock worth $459,000 after purchasing an additional 995 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in Iovance Biotherapeutics by 9.3% in the 1st quarter. GSA Capital Partners LLP now owns 16,823 shares of the biotechnology company’s stock worth $280,000 after purchasing an additional 1,425 shares in the last quarter.

Iovance Biotherapeutics Company Profile

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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. It has six ongoing phase 2 clinical studies, including C-144-01, of its lead product candidate, lifileucel, for the treatment of metastatic melanoma; C-145-04, of its product candidate lifileucel for recurrent, metastatic, or persistent cervical cancer; and C-145-03, of its product candidate LN-145, for recurrent and/or metastatic head and neck squamous cell carcinoma.

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