Iovance Biotherapeutics (NASDAQ:IOVA) Stock Rating Reaffirmed by Truist Financial

Truist Financial reissued their buy rating on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a report issued on Friday morning, Benzinga reports. Truist Financial currently has a $17.00 price objective on the biotechnology company’s stock.

Several other analysts have also recently commented on IOVA. Stifel Nicolaus decreased their price target on shares of Iovance Biotherapeutics from $27.00 to $26.00 and set a buy rating on the stock in a research note on Wednesday, September 13th. HC Wainwright reaffirmed a buy rating and set a $38.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, August 9th. StockNews.com raised shares of Iovance Biotherapeutics to a sell rating in a report on Friday, September 8th. Chardan Capital reiterated a buy rating and set a $29.00 price objective on shares of Iovance Biotherapeutics in a research report on Wednesday, August 16th. Finally, Wells Fargo & Company raised shares of Iovance Biotherapeutics from an equal weight rating to an overweight rating and increased their price target for the company from $11.00 to $17.00 in a report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $19.54.

Iovance Biotherapeutics Trading Up 12.5 %

NASDAQ:IOVA opened at $5.93 on Friday. The stock has a 50-day moving average price of $6.74 and a 200 day moving average price of $6.92. The stock has a market capitalization of $1.47 billion, a P/E ratio of -2.65 and a beta of 0.10. Iovance Biotherapeutics has a 12-month low of $4.41 and a 12-month high of $10.85.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.34. The company had revenue of $0.24 million for the quarter, compared to analysts’ expectations of $3.91 million. During the same period last year, the business earned ($0.63) earnings per share. On average, research analysts predict that Iovance Biotherapeutics will post -1.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Wayne P. Rothbaum acquired 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were bought at an average price of $5.30 per share, with a total value of $26,500,000.00. Following the completion of the transaction, the director now directly owns 23,067,333 shares in the company, valued at $122,256,864.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. increased its position in shares of Iovance Biotherapeutics by 299.5% in the 1st quarter. Assetmark Inc. now owns 4,223 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 3,166 shares during the period. US Bancorp DE increased its position in shares of Iovance Biotherapeutics by 72.7% in the first quarter. US Bancorp DE now owns 5,591 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 2,354 shares in the last quarter. Royal Bank of Canada increased its stake in Iovance Biotherapeutics by 54.5% during the 3rd quarter. Royal Bank of Canada now owns 5,066 shares of the biotechnology company’s stock worth $48,000 after buying an additional 1,787 shares in the last quarter. Systematic Financial Management LP purchased a new stake in shares of Iovance Biotherapeutics during the first quarter worth $48,000. Finally, Lazard Asset Management LLC lifted its position in Iovance Biotherapeutics by 38.5% during the first quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company’s stock worth $55,000 after buying an additional 934 shares in the last quarter. Institutional investors and hedge funds own 81.85% 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 that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.